Highwoods Properties Inc Stock Forecast
Highwoods Properties Inc stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Highwoods Properties Inc stock price gained 1.97% on the last trading day (Wednesday, 24th Apr 2024), rising from $25.40 to $25.90. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.95% from a day low at $24.83 to a day high of $26.06. The price has risen in 7 of the last 10 days and is up by 4.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 130 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $27.12 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.78% during the next 3 months and, with a 90% probability hold a price between $26.05 and $29.50 at the end of this 3-month period.
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HIW Signals & Forecast
The Highwoods Properties Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $24.52 and $24.81. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Highwoods Properties Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $24.07 and $23.82. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Highwoods Properties Inc finds support just below today's level at $24.07. If this is broken, then the next support from accumulated volume will be at $23.82 and $22.66.
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 $1.23 between high and low, or 4.95%. For the last week, the stock has had daily average volatility of 2.92%.
Since the Highwoods Properties Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $24.92 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (HIW) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Highwoods Properties Inc to open at $25.60, and during the day (based on 14 day Average True Range), to move between $25.16 and $26.64, which gives a possible trading interval of +/-$0.739 (+/-2.85%) up or down from last closing price. If Highwoods Properties Inc takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.93 (0.12%) than the support at $24.07 (7.07%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Highwoods Properties Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Highwoods Properties Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.945 Buy Candidate Upgraded
Predicted Opening Price for Highwoods Properties Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $25.60 ( 1.17%) | $25.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HIW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.83 | 3.58 % | |
| R2 | 26.36 | 1.76 % | ||
| R1 | 26.07 | 0.643 % | ||
| Current price: | 25.90 | |||
| Support | S1 | 25.13 | -2.99 % | |
| S2 | 24.84 | -4.11 % | ||
| S3 | 24.37 | -5.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 26.18 | 1.08 % | ||
| R1 | 25.93 | 0.116 % | ||
| Current price | 25.90 | |||
| Support | S1 | 24.07 | -7.07% | |
| S2 | 23.82 | -8.03% | ||
| S3 | 22.66 | -12.51% |
HIW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | May 17, 2024 | Jun 11, 2024 | $0.500 | 1.93% |
| 2 | Jan 31, 2024 | Feb 16, 2024 | Mar 12, 2024 | $0.500 | 2.03% |
| 3 | Oct 18, 2023 | Nov 17, 2023 | Dec 12, 2023 | $0.500 | 2.37% |
| 4 | Jul 19, 2023 | Aug 18, 2023 | Sep 12, 2023 | $0.500 | 2.17% |
| 5 | Apr 20, 2023 | May 19, 2023 | Sep 12, 2023 | $0.500 | 2.17% |
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