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Hennessy Capital Acquisition Corp. IV Stock Forecast NASDAQ:HCACW

$2.88 (3.97%)

Volume: 73k

Closed: Dec 07, 2021

Hollow Logo Score: 0.823

Hennessy Capital Acquisition Corp. IV Stock Forecast

$2.88 (3.97%)

Volume: 73k

Closed: Dec 07, 2021

Score Hollow Logo 0.823
Which way will HCACW go? Request

HCACW Stock Risk

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.19 between high and low, or 6.81%. For the last week the stock has had a daily average volatility of 19.11%.

Our recommended stop-loss: $2.72 (-5.54%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)

Overall risk:

Very Low Low Medium High Very High

* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 20 - 75 ] RSI14 is 48 and the stock is currently not being overbought or oversold

Hennessy Capital Acquisition Corp. IV stock downgraded to Hold/Accumulate
(Updated on Dec 07, 2021)


Buy or Hold candidate since 2021-10-21 Gain 59.11%

The Hennessy Capital Acquisition Corp. IV stock price gained 3.97% on the last trading day (Tuesday, 7th Dec 2021), rising from $2.77 to $2.88. During the day the stock fluctuated 6.81% from a day low at $2.79 to a day high of $2.98. The price has fallen in 6 of the last 10 days and is down by -26.72% for this period. Volume fell on the last day by -128 thousand shares and in total, 73 thousand shares were bought and sold for approximately $209.24 thousand. 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 part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 92.98% during the next 3 months and, with a 90% probability hold a price between $5.41 and $8.82 at the end of this 3-month period.

Signals & Forecast

The Hennessy Capital Acquisition Corp. IV stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $3.47. On a fall, the stock will find some support from the long-term average at approximately $2.73. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, November 29, 2021, and so far it has fallen -33.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $2.70 and $2.44. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Hennessy Capital Acquisition Corp. IV finds support just below today's level at $2.70. If this is broken, then the next support from accumulated volume will be at $2.44 and $2.25.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.19 between high and low, or 6.81%. For the last week the stock has had a daily average volatility of 19.11%.

Our recommended stop-loss: $2.72 (-5.54%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)

Is Hennessy Capital Acquisition Corp. IV stock A Buy?

Hennessy Capital Acquisition Corp. IV 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.823

Predicted Opening Price for Hennessy Capital Acquisition Corp. IV of Wednesday, December 8, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 8, 2021 Current price
$2.88 $2.88 (Undervalued)
Hold/Accumulate Downgraded

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Volatility and Risk
Daily Average Volatility: 19.11 %
Overall Risk: Very High High Medium Low Very Low
Volatility
19.11 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $2.89
Price: $2.88
Support: $2.70

HCACW Insider Trading Show all Trades

INSIDER POWER

9.935

Last 29 transactions
Buy: 144 462 369 | Sell: 14 540 901 (Shares)
Date Action Amount Person Type
Dec 29, 2020 Sell 30 612 Balciunas Paul Common Stock
Dec 21, 2020 Buy 62 299 069 Dd Global Holdings Ltd Common Stock
Dec 21, 2020 Buy 8 859 387 Aquila Tony Common Stock
Dec 21, 2020 Buy 3 500 000 Aquila Tony Common Stock
Dec 21, 2020 Buy 25 000 Ethridge Greg Common Stock
Show all Insider Trades
INSIDER POWER

9.935

Last 29 transactions
Buy: 144 462 369 | Sell: 14 540 901 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 3.07 6.72 %
3.00 4.20 %
2.96 2.64 %
Current price: 2.88
Support 2.81 -2.40 %
2.77 -3.96 %
2.69 -6.48 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 3.47 20.49 %
3.08 6.95 %
2.89 0.18 %
Current price 2.88
Support 2.70 -6.25%
2.44 -15.27%
2.25 -21.87%

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