Hot Chili Limited Stock Forecast
Hot Chili Limited stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Hot Chili Limited stock price gained 2.13% on the last trading day (Wednesday, 24th Apr 2024), rising from $1.18 to $1.20. During the last trading day the stock fluctuated 3.39% from a day low at $1.18 to a day high of $1.22. The price has fallen in 5 of the last 10 days and is down by -1.64% for this period. Volume fell on the last day by -37 thousand shares and in total, 64 thousand shares were bought and sold for approximately $76.23 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.54% during the next 3 months and, with a 90% probability hold a price between $1.20 and $1.57 at the end of this 3-month period.
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HCH.AX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -6.98%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The Hot Chili Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.20 and $1.13. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Hot Chili Limited stock
Hot Chili Limited finds support from accumulated volume at $1.19 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0400 between high and low, or 3.39%. For the last week the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: $1.15 (-4.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (HCH.AX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Hot Chili Limited to open at $1.20, and during the day (based on 14 day Average True Range), to move between $1.14 and $1.26, which gives a possible trading interval of +/-$0.0603 (+/-5.03%) up or down from last closing price. If Hot Chili Limited takes out the full calculated possible swing range there will be an estimated 10.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.19 (0.83%) than the resistance at $1.22 (1.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hot Chili Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hot Chili Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.094 Buy Candidate Upgraded
Predicted Opening Price for Hot Chili Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.20 ( 0%) | $1.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HCH.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.24 | 3.33 % | |
| R2 | 1.22 | 2.06 % | ||
| R1 | 1.22 | 1.27 % | ||
| Current price: | 1.20 | |||
| Support | S1 | 1.18 | -1.27 % | |
| S2 | 1.18 | -2.06 % | ||
| S3 | 1.16 | -3.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.29 | 7.50 % | |
| R2 | 1.28 | 6.67 % | ||
| R1 | 1.22 | 1.67 % | ||
| Current price | 1.20 | |||
| Support | S1 | 1.19 | -0.83% | |
| S2 | 1.02 | -15.00% | ||
| S3 | 0.93 | -22.50% |
FAQ
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