Hawaiian Electric Industries Inc Stock Forecast
Stronger technical forecast for Hawaiian Electric Industries Inc stock price after Wednesday trading.
(Updated on Apr 17, 2024)
The Hawaiian Electric Industries Inc stock price gained 2.63% on the last trading day (Wednesday, 17th Apr 2024), rising from $9.52 to $9.77. During the last trading day the stock fluctuated 7.13% from a day low at $9.26 to a day high of $9.92. The price has fallen in 6 of the last 10 days and is down by -11.58% for this period. Volume fell on the last day by -8 million shares and in total, 5 million shares were bought and sold for approximately $45.04 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 lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.47 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -23.36% during the next 3 months and, with a 90% probability hold a price between $7.25 and $8.57 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.
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HE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.63%. 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. The Hawaiian Electric Industries Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.48 and $11.15. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hawaiian Electric Industries Inc stock
Hawaiian Electric Industries Inc finds support from accumulated volume at $9.52 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 $0.660 between high and low, or 7.13%. For the last week, the stock has had daily average volatility of 7.56%.
Our recommended stop-loss: $9.29 (-4.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (HE) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Hawaiian Electric Industries Inc to open at $9.65, and during the day (based on 14 day Average True Range), to move between $9.30 and $10.24, which gives a possible trading interval of +/-$0.474 (+/-4.85%) up or down from last closing price. If Hawaiian Electric Industries Inc takes out the full calculated possible swing range there will be an estimated 9.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.52 (2.56%) than the resistance at $10.91 (11.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hawaiian Electric Industries Inc stock A Buy?
Hawaiian Electric Industries Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.353 Hold/Accumulate Upgraded
Predicted Opening Price for Hawaiian Electric Industries Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $9.65 ( 1.23%) | $9.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.31 | 5.53 % | |
| R2 | 10.06 | 2.95 % | ||
| R1 | 9.90 | 1.35 % | ||
| Current price: | 9.77 | |||
| Support | S1 | 9.40 | -3.81 % | |
| S2 | 9.24 | -5.40 % | ||
| S3 | 8.99 | -7.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.27 | 15.35 % | |
| R2 | 11.16 | 14.23 % | ||
| R1 | 10.91 | 11.67 % | ||
| Current price | 9.77 | |||
| Support | S1 | 9.52 | -2.56% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
HE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 17, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 2 | May 04, 2023 | May 18, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 3 | Feb 10, 2023 | Feb 22, 2023 | Mar 10, 2023 | $0.360 | 0.96% |
| 4 | Nov 03, 2022 | Nov 21, 2022 | Dec 09, 2022 | $0.350 | 0.85% |
| 5 | Aug 05, 2022 | Aug 17, 2022 | Sep 09, 2022 | $0.350 | 0.88% |
FAQ
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