HubSpot Inc. (NYSE:HUBS) is a marketing automation software company founded in 2006 and went public in 2014. The share hit the highest valuation of $866 in November 2021. Since then, the company has been correcting with the price dropping to $491.73, the closing price this week.
Within the week, the stock swung between a low of $378 and a high of $492. Generally, it would appear that the stock is trying to establish support at $400 and stabilize between the support and a high of $544.
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However, this pattern is yet to be confirmed with certainty, and developments within the coming week will be important in determining the stock’s direction.
HubSpot is bearish but will stabilize between $400 and $502
Technical analysis of the stock points to a bearish trend signaled by three important factors. First, the 20-day moving average just crossed below the 50-day moving average at $502. We project that the convergence point will be the definitive resistance level in the immediate period.
Secondly, the MACD and signal are trading below the oscillator, with the divergence widening in the red zone.
Thirdly, the RSI at 42 and the RSI SMA at 38.03 point to a declining trend. A closer study of the RSI indicates that the prices start rising as soon as the indicator tests the oversold region. Investors should therefore closely monitor the RSI for critical buy signals.
Summary
HubSpot is a fundamentally endowed marketing automation software company that will continue attracting investors.
Investors, however, need to study patterns of the pricing especially now that the stock is on a bearish trend. We project the price stabilizing between a low of $400 and a high of $502 in the foreseeable future.
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Source: https://invezz.com/news/2022/03/19/hubspot-is-trading-at-491-73-sell-now-and-wait-for-the-price-of-around-400/