Halfords Forecast and Stock Analysis
Technical HFD.L stock analysis for March 18, 2019.
Halfords fell by -0.16% in the last day from £246.80 to £246.40 and has now fallen 3 days in a row. The price has been going up and down for this period, and there has been a 0.16% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -6 040 202 shares and in total 379 245 shares bought and sold for approximately £93.45 million.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the HFD.L stock was £246.40. This is 0.16% less than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 2.46% from a day low at £244.00 to a day high of £250.00.
30 day high of the HFD.L stock price was £254.60 and low was £230.00.
90 day high was £280.40 and low was £199.20.
52 week high for the Halfords - £391.00 and low - £199.20.
Halfords lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.19% during the next 3 months and, with 90% probability hold a price between £196.65 and £254.16 at the end of this period.
Halfords holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at £242.94 and £238.76. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday March 14, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Halfords finds support from accumulated volume at £240.00.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £6.00 (2.46%) between high and low. For the last week, the stock has had a daily average volatility of 3.25%.
Our recommended stoploss: £235.51 (-4.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 2 days ago.)
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Halfords holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.