Hardide Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Hardide stock price ended at £6.87 on Friday, after gaining 2.54%.
(Updated on May 03, 2024)
The Hardide stock price gained 2.54% on the last trading day (Friday, 3rd May 2024), rising from £6.70 to £6.87. During the last trading day the stock fluctuated 5.34% from a day low at £6.55 to a day high of £6.90. The price has been going up and down for this period, and there has been a 22.13% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 322 thousand more shares were traded than the day before. In total, 322 thousand shares were bought and sold for approximately £2.21 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.83% during the next 3 months and, with a 90% probability hold a price between £3.36 and £7.45 at the end of this 3-month period.
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HDD.L Signals & Forecast
The Hardide 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 £6.54 and £5.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 22, 2024, and so far it has risen 41.65%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Hardide stock
Hardide finds support from accumulated volume at £6.60 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.350 between high and low, or 5.34%. For the last week, the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: £6.64 (-3.34%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (HDD.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Hardide to open at £6.77, and during the day (based on 14 day Average True Range), to move between £6.58 and £7.16, which gives a possible trading interval of +/-£0.293 (+/-4.27%) up or down from last closing price. If Hardide takes out the full calculated possible swing range there will be an estimated 8.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £6.60 (3.93%) than the resistance at £7.50 (9.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Hardide will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Hardide, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.58% in the first trading day after earnings release.
Is Hardide stock A Buy?
Hardide holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Hardide of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £6.77 ( 1.41%) | £6.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HDD.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.12 | 3.69 % | |
| R2 | 6.99 | 1.74 % | ||
| R1 | 6.91 | 0.539 % | ||
| Current price: | 6.87 | |||
| Support | S1 | 6.64 | -3.35 % | |
| S2 | 6.56 | -4.56 % | ||
| S3 | 6.42 | -6.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.00 | 16.45 % | |
| R2 | 7.75 | 12.81 % | ||
| R1 | 7.50 | 9.17 % | ||
| Current price | 6.87 | |||
| Support | S1 | 6.60 | -3.93% | |
| S2 | 6.25 | -9.02% | ||
| S3 | 5.63 | -18.12% |
FAQ
Click here for our free guide on how to buy Hardide Stock.
