Are Analysts Seeing Upside To Manulife Financial Corporation (MFC), Himax Technologies, Inc. (HIMX)?

Manulife Financial Corporation (NYSE:MFC) average daily volatility for this week is 1.89% which is more than the 1.73% recorded over the past month. Its shares dropped by -22.43% or -$4.52 from its last recorded high of $20.15 which it attained on February 12 to close at $15.63 per share. Over the past 52 weeks, the shares of Manulife Financial Corporation has been trading as low as $13.33 before witnessing a massive surge by 17.25% or $2.3. This price movement has led to the MFC stock receiving more attention and has become one to watch out for. It dipped by -0.32% on Monday and this got the market worried. The stock’s beta now stands at 1.35 and when compared to its 200-day moving average and its 50-day moving average, MFC price stands -9.52% below and 2.04% above respectively.

Manulife Financial Corporation (MFC) sank -1.01% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -21.3% and is now up by 10.15% since start of this year. A look at its monthly performance shows that the stock has recorded a 0.51% gain over the past 30 days. Its equity price dipped by -4.46% over the past three months which led to its overall six-month decrease to stand at -15.05%.

Experts from research firms are bullish about the near-term performance of Manulife Financial Corporation with most of them predicting a $23.61 price target on a short-term (12 months) basis. The average price target by the analysts will see a 51.06% rise in the stock and would lead to MFC’s market cap to surge to $46.75B. The stock has been rated an average 1.5, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 15 analysts that track Manulife Financial Corporation (NYSE:MFC) and find out that 2 of them rated it as a Hold. 13 of the 13 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at MFC technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 50.2 point. Its trading volume has lost -505926 shares compared to readings over the past three months as it recently exchanged 1584074 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 2090000 shares, and this is 0.76 times the normal volume.

The price of Himax Technologies, Inc. (NASDAQ:HIMX) currently stands at $3.76 after it went up by $0.01 or 0.27% and has found a strong support at $3.73 a share. If the HIMX price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $3.69 mark would also be bad for the stock as it means that the stock would plunge by 1.86% from its current position. However, if the stock price is able to trade above the resistance point around $3.82, then it could likely surge higher to try and break the upward resistance which stands at $3.87 a share. Its average daily volatility over the past one month stands at 5.37%. The stock has plunged by 0.27% from its 52-weeks high of $3.75 which it reached on Feb. 27, 2018. In general, it is 19.41% above its 52-weeks lowest point which stands at $3.03 and this setback was observed on Dec. 10, 2018.

Analysts have predicted a price target for Himax Technologies, Inc. (HIMX) for 1 year and it stands at an average $4.92/share. This means that it would likely increase by 30.85% from its current position. The current price of the stock has been moving between $3.75 and $3.84. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $4. On the other hand, one analyst is super bullish about the price, setting a target as high as $7.

Analysts view Himax Technologies, Inc. (NASDAQ:HIMX) as a Sell, with 3.1 consensus rating. Reuters surveyed 8 analysts that follow HIMX and found that 7 of those analysts rated the stock as a Hold. The remaining 1 were divided, with 0 analyst rating it as a Buy or a Strong Buy while 1 analysts advised investors to desist from buying Himax Technologies, Inc. (HIMX) shares or sell it if they already own it.