Hiscox Ltd Stock Forecast
Hiscox Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Hiscox Ltd stock price fell by -1.07% on the last day (Wednesday, 24th Apr 2024) from £1,215.00 to £1,202.00. During the last trading day the stock fluctuated 2.70% from a day low at £1,186.00 to a day high of £1,218.00. The price has risen in 6 of the last 10 days and is up by 2.39% over the past 2 weeks. Volume has increased on the last day by 165 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately £1.84 billion.
The stock lies in the middle of a 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 20.28% during the next 3 months and, with a 90% probability hold a price between £1,404.42 and £1,559.32 at the end of this 3-month period.
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HSX.L Signals & Forecast
The Hiscox Ltd 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 £1,181.14 and £1,201.66. A breakdown 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 sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -3.06%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hiscox Ltd stock
Hiscox Ltd finds support from accumulated volume at £1,174.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £32.00 (2.70%) between high and low. For the last week, the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: £1,162.99 (-3.25%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (HSX.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Hiscox Ltd to open at £1,202.00, and during the day (based on 14 day Average True Range), to move between £1,173.02 and £1,230.98, which gives a possible trading interval of +/-£28.98 (+/-2.41%) up or down from last closing price. If Hiscox Ltd takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,218.00 (1.33%) than the support at £1,174.00 (2.33%), 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 Hiscox Ltd stock A Buy?
Hiscox Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.649 Hold/Accumulate Downgraded
Predicted Opening Price for Hiscox Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £1,202.00 ( 0%) | £1,202.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,234.00 | 2.66 % | |
| R2 | 1,221.78 | 1.65 % | ||
| R1 | 1,214.22 | 1.02 % | ||
| Current price: | 1,202.00 | |||
| Support | S1 | 1,189.78 | -1.02 % | |
| S2 | 1,182.22 | -1.65 % | ||
| S3 | 1,170.00 | -2.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,236.00 | 2.83 % | |
| R2 | 1,225.00 | 1.91 % | ||
| R1 | 1,218.00 | 1.33 % | ||
| Current price | 1,202.00 | |||
| Support | S1 | 1,174.00 | -2.33% | |
| S2 | 1,169.00 | -2.75% | ||
| S3 | 1,150.00 | -4.33% |
HSX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | Jun 12, 2024 | £19.64 | 1.63% |
| 2 | Mar 08, 2023 | May 04, 2023 | Jun 13, 2023 | £19.39 | 1.75% |
| 3 | Aug 03, 2022 | Aug 11, 2022 | Sep 20, 2022 | £10.37 | 1.13% |
| 4 | Mar 02, 2022 | May 05, 2022 | Jun 13, 2022 | £18.30 | 2.01% |
| 5 | Aug 03, 2021 | Aug 12, 2021 | Sep 22, 2021 | £8.33 | 0.95% |
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