Hennessy Capital Investment Corp. Vi Stock Forecast

Big movements in Hennessy Capital Investment Corp. Vi stock price on Tuesday moving 50.67% between high and low
(Updated on Jun 25, 2024)

HCVIW Signals & Forecast

The Hennessy Capital Investment Corp. Vi 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 $0.159. On a fall, the stock will find some support from the long-term average at approximately $0.126. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, June 18, 2024, and so far it has fallen -39.61%. Further fall is indicated until a new bottom pivot has been found. Hennessy Capital Investment Corp. Vi gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Hennessy Capital Investment Corp. Vi stock

Hennessy Capital Investment Corp. Vi finds support from accumulated volume at $0.145 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0608 between high and low, or 50.67%. For the last week, the stock has had daily average volatility of 47.47%.

Our recommended stop-loss: $0.143 (-4.88%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (HCVIW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Hennessy Capital Investment Corp. Vi to open at $0.150, and during the day (based on 14 day Average True Range), to move between $0.117 and $0.183, which gives a possible trading interval of +/-$0.0331 (+/-22.04%) up or down from last closing price. If Hennessy Capital Investment Corp. Vi takes out the full calculated possible swing range there will be an estimated 44.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.151 (0.67%) than the support at $0.145 (3.33%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Hennessy Capital Investment Corp. Vi 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 Hennessy Capital Investment Corp. Vi stock to perform well in the short-term.

Current score: 1.893 Buy Candidate Unchanged

Predicted Opening Price for Hennessy Capital Investment Corp. Vi of Wednesday, June 26, 2024

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