Haydale Graphene Industries plc Stock Forecast
Volatile ride for Haydale Graphene Industries plc stock price on Tuesday moving between $0.0052 and $0.0070
(Updated on Apr 23, 2024)
The Haydale Graphene Industries plc stock price gained 34.62% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.0052 to $0.0070. During the last trading day the stock fluctuated 34.62% from a day low at $0.0052 to a day high of $0.0070. The price has fallen in 5 of the last 10 days and is down by -5.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 203 thousand more shares were traded than the day before. In total, 208 thousand shares were bought and sold for approximately $1.45 thousand.
The stock lies in the middle of a very wide and weak 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 2.17% during the next 3 months and, with a 90% probability hold a price between $0.0052 and $0.0085 at the end of this 3-month period.
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HDGHF Signals & Forecast
The Haydale Graphene Industries plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0060 and $0.0065. A breakdown below any of these levels will issue sell signals. Haydale Graphene Industries plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, April 11, 2024, and so far it has fallen -5.41%. 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).
A buy signal from a double bottom formation was found on Friday, February 16, 2024 and based on theory for this formation the price should go up by 5.71% to $0.0074 within 4 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Haydale Graphene Industries plc stock
Haydale Graphene Industries plc finds support from accumulated volume at $0.0067 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 $0.0018 between high and low, or 34.62%. For the last week, the stock has had daily average volatility of 11.12%.
Our recommended stop-loss: $0.0066 (-5.24%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (HDGHF) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Haydale Graphene Industries plc to open at $0.0064, and during the day (based on 14 day Average True Range), to move between $0.0061 and $0.0079, which gives a possible trading interval of +/-$0.0009 (+/-13.02%) up or down from last closing price. If Haydale Graphene Industries plc takes out the full calculated possible swing range there will be an estimated 26.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0067 (4.83%) than the resistance at $0.0074 (5.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Haydale Graphene Industries plc stock A Buy?
Haydale Graphene Industries plc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.536 Hold/Accumulate Upgraded
Predicted Opening Price for Haydale Graphene Industries plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.0064 ( 8.57%) | $0.0070 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HDGHF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0082 | 17.14 % | |
| R2 | 0.0075 | 7.32 % | ||
| R1 | 0.0071 | 1.25 % | ||
| Current price: | 0.0070 | |||
| Support | S1 | 0.0057 | -18.39 % | |
| S2 | 0.0053 | -24.46 % | ||
| S3 | 0.0046 | -34.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0082 | 17.14 % | |
| R2 | 0.0078 | 11.43 % | ||
| R1 | 0.0074 | 5.71 % | ||
| Current price | 0.0070 | |||
| Support | S1 | 0.0067 | -4.83% | |
| S2 | 0.0066 | -6.29% | ||
| S3 | 0.0058 | -17.14% |
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