Hawaiian Electric Industries Inc Stock Forecast
Hawaiian Electric Industries Inc stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Hawaiian Electric Industries Inc stock price gained 1.11% on the last trading day (Tuesday, 23rd Apr 2024), rising from $10.83 to $10.95. During the last trading day the stock fluctuated 3.50% from a day low at $10.71 to a day high of $11.09. The price has been going up and down for this period, and there has been a -2.06% loss for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 1 million shares were bought and sold for approximately $13.56 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -24.15% during the next 3 months and, with a 90% probability hold a price between $7.01 and $8.31 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HE Signals & Forecast
There are mixed signals in the stock today. The Hawaiian Electric Industries Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.01. On a fall, the stock will find some support from the short-term average at $10.41. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.02%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Hawaiian Electric Industries Inc stock
Hawaiian Electric Industries Inc finds support from accumulated volume at $10.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.375 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 5.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HE) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Hawaiian Electric Industries Inc to open at $10.92, and during the day (based on 14 day Average True Range), to move between $10.48 and $11.42, which gives a possible trading interval of +/-$0.475 (+/-4.34%) up or down from last closing price. If Hawaiian Electric Industries Inc takes out the full calculated possible swing range there will be an estimated 8.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.91 (0.37%) than the resistance at $11.27 (2.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hawaiian Electric Industries Inc stock A Buy?
Hawaiian Electric Industries Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.488 Sell Candidate Downgraded
Predicted Opening Price for Hawaiian Electric Industries Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $10.92 ( 0.320%) | $10.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.29 | 3.11 % | |
| R2 | 11.15 | 1.80 % | ||
| R1 | 11.06 | 0.99 % | ||
| Current price: | 10.95 | |||
| Support | S1 | 10.77 | -1.63 % | |
| S2 | 10.68 | -2.44 % | ||
| S3 | 10.54 | -3.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.11 | 19.73 % | |
| R2 | 12.47 | 13.88 % | ||
| R1 | 11.27 | 2.92 % | ||
| Current price | 10.95 | |||
| Support | S1 | 10.91 | -0.365% | |
| S2 | 9.77 | -10.78% | ||
| S3 | 9.52 | -13.06% |
HE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 17, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 2 | May 04, 2023 | May 18, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 3 | Feb 10, 2023 | Feb 22, 2023 | Mar 10, 2023 | $0.360 | 0.96% |
| 4 | Nov 03, 2022 | Nov 21, 2022 | Dec 09, 2022 | $0.350 | 0.85% |
| 5 | Aug 05, 2022 | Aug 17, 2022 | Sep 09, 2022 | $0.350 | 0.88% |
FAQ
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