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Huntington Ingalls Industries Inc
Huntington Ingalls Industries, Inc. (NYSE: HII) is a global, all-domain defense provider. The Company delivers ships and all-domain solutions in service of the nation. It delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. It operates through three segments: Ingalls Shipbuilding (Ingalls), Newport News Shipbuilding (Newport News), and Mission Technologies.
Key Business & Financial Updates
Technical Observation (on the daily chart):
The Relative Strength Index (RSI) over a 14-day period stands at a value of 32.05, recovering from oversold zone, with the price taking reversal from an important support zone of USD 170.00-USD 180.00, with expectations of some support if these levels sustain. Additionally, the stock's current positioning is below both 50-Day SMA and 200-Day SMA, which can act as a short to medium term resistance levels.
As per the above-mentioned price action, momentum in the stock over the last month, current macroeconomic scenarios, recent business & financial updates, and technical indicators analysis, a ‘BUY’ rating has been given to Huntington Ingalls Industries, Inc. (NYSE: HII) at the current market price of USD 193.61 as of November 21, 2024, at 08:10 am PST.
Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is November 21, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.s
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