Heritage Commerce Corp Stock Forecast
Green day on Tuesday for Heritage Commerce Corp stock after gaining 1.97%
(Updated on Apr 23, 2024)
The Heritage Commerce Corp stock price gained 1.97% on the last trading day (Tuesday, 23rd Apr 2024), rising from $8.14 to $8.30. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.21% from a day low at $8.10 to a day high of $8.36. The price has risen in 6 of the last 10 days and is up by 0.97% over the past 2 weeks. Volume fell on the last day by -30 thousand shares and in total, 250 thousand shares were bought and sold for approximately $2.07 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.
The stock lies in the middle of a 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 -8.28% during the next 3 months and, with a 90% probability hold a price between $7.15 and $8.13 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HTBK Signals & Forecast
The Heritage Commerce Corp 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 $8.02 and $8.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.73%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Heritage Commerce Corp stock
Heritage Commerce Corp finds support from accumulated volume at $8.28 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 $0.260 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $8.00 (-3.63%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (HTBK) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Heritage Commerce Corp to open at $8.25, and during the day (based on 14 day Average True Range), to move between $8.10 and $8.50, which gives a possible trading interval of +/-$0.203 (+/-2.45%) up or down from last closing price. If Heritage Commerce Corp takes out the full calculated possible swing range there will be an estimated 4.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.31 (0.12%) than the support at $8.28 (0.24%), 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 Commerce Corp will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.190. We will update the financials statements for Heritage Commerce Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.22% in the first trading day after earnings release.
Is Heritage Commerce Corp stock A Buy?
Heritage Commerce Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.653 Hold/Accumulate Unchanged
Predicted Opening Price for Heritage Commerce Corp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $8.25 ( 0.562%) | $8.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HTBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.51 | 2.57 % | |
| R2 | 8.41 | 1.37 % | ||
| R1 | 8.35 | 0.634 % | ||
| Current price: | 8.30 | |||
| Support | S1 | 8.15 | -1.76 % | |
| S2 | 8.09 | -2.50 % | ||
| S3 | 7.99 | -3.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.19 | 10.72 % | |
| R2 | 8.89 | 7.11 % | ||
| R1 | 8.31 | 0.120 % | ||
| Current price | 8.30 | |||
| Support | S1 | 8.28 | -0.241% | |
| S2 | 8.25 | -0.602% | ||
| S3 | 8.13 | -2.05% |
HTBK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 07, 2024 | Feb 22, 2024 | $0.130 | 1.56% |
| 2 | Oct 26, 2023 | Nov 06, 2023 | Nov 21, 2023 | $0.130 | 1.53% |
| 3 | Jul 27, 2023 | Aug 09, 2023 | Aug 24, 2023 | $0.130 | 1.49% |
| 4 | Apr 27, 2023 | May 10, 2023 | May 25, 2023 | $0.130 | 1.75% |
| 5 | Jan 26, 2023 | Feb 08, 2023 | Feb 23, 2023 | $0.130 | 1.05% |
FAQ
Click here for our free guide on how to buy Heritage Commerce Corp Stock.
