Heritage Insurance Holdings Inc Stock Forecast
High volatility in Heritage Insurance Holdings Inc stock price on Tuesday which ended trading at $10.20
(Updated on Apr 23, 2024)
The Heritage Insurance Holdings Inc stock price gained 7.37% on the last trading day (Tuesday, 23rd Apr 2024), rising from $9.50 to $10.20. During the last trading day the stock fluctuated 10.21% from a day low at $9.40 to a day high of $10.36. The price has been going up and down for this period, and there has been a -1.16% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 188 thousand more shares were traded than the day before. In total, 371 thousand shares were bought and sold for approximately $3.79 million.
The stock lies in the middle of a very wide and strong 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 80.90% during the next 3 months and, with a 90% probability hold a price between $17.35 and $22.47 at the end of this 3-month period.
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HRTG Signals & Forecast
The Heritage Insurance Holdings Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $9.55 and $9.41. 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 Monday, April 01, 2024, and so far it has fallen -7.19%. 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 Heritage Insurance Holdings Inc stock
Heritage Insurance Holdings Inc finds support from accumulated volume at $9.84 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 $0.96 between high and low, or 10.21%. For the last week, the stock has had daily average volatility of 4.78%.
Our recommended stop-loss: $9.71 (-4.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (HRTG) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Heritage Insurance Holdings Inc to open at $9.99, and during the day (based on 14 day Average True Range), to move between $9.71 and $10.69, which gives a possible trading interval of +/-$0.490 (+/-4.81%) up or down from last closing price. If Heritage Insurance Holdings Inc takes out the full calculated possible swing range there will be an estimated 9.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.34 (1.37%) than the support at $9.84 (3.53%), 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.
Earnings coming up
Heritage Insurance Holdings Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.610. We will update the financials statements for Heritage Insurance Holdings Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.59% in the first trading day after earnings release.
Is Heritage Insurance Holdings Inc stock A Buy?
Heritage Insurance Holdings Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.935 Strong Buy Candidate Upgraded
Predicted Opening Price for Heritage Insurance Holdings Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $9.99 ( 2.09%) | $10.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HRTG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.95 | 7.32 % | |
| R2 | 10.58 | 3.72 % | ||
| R1 | 10.35 | 1.50 % | ||
| Current price: | 10.20 | |||
| Support | S1 | 9.62 | -5.69 % | |
| S2 | 9.39 | -7.91 % | ||
| S3 | 9.03 | -11.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.68 | 4.71 % | |
| R2 | 10.65 | 4.41 % | ||
| R1 | 10.34 | 1.37 % | ||
| Current price | 10.20 | |||
| Support | S1 | 9.84 | -3.53% | |
| S2 | 8.95 | -12.25% | ||
| S3 | 8.42 | -17.45% |
HRTG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 05, 2022 | Jun 13, 2022 | Jul 05, 2022 | $0.0600 | 2.30% |
| 2 | Mar 07, 2022 | Mar 16, 2022 | Apr 06, 2022 | $0.0600 | 0.94% |
| 3 | Nov 04, 2021 | Dec 14, 2021 | Jan 06, 2022 | $0.0600 | 0.93% |
| 4 | Aug 05, 2021 | Sep 14, 2021 | Oct 06, 2021 | $0.0600 | 0.85% |
| 5 | May 05, 2021 | Jun 14, 2021 | Jul 06, 2021 | $0.0600 | 0.701% |
FAQ
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