Highland Copper Company Inc. Stock Forecast
Highland Copper Company Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Highland Copper Company Inc. stock price gained 3.82% on the last trading day (Friday, 17th May 2024), rising from $0.0786 to $0.0816. During the last trading day the stock fluctuated 4.21% from a day low at $0.0783 to a day high of $0.0816. The price has risen in 5 of the last 10 days and is up by 7.93% over the past 2 weeks. Volume fell on the last day by -23 thousand shares and in total, 110 thousand shares were bought and sold for approximately $8.97 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 30.25% during the next 3 months and, with a 90% probability hold a price between $0.0939 and $0.147 at the end of this 3-month period.
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HDRSF Signals & Forecast
The Highland Copper Company Inc. 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 $0.0759 and $0.0813. A breakdown below any of these levels will issue sell signals. 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 Friday, April 12, 2024, and so far it has fallen -20.00%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Highland Copper Company Inc. stock
Highland Copper Company Inc. finds support from accumulated volume at $0.0809 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0033 between high and low, or 4.21%. For the last week the stock has had daily average volatility of 8.01%.
Our recommended stop-loss: $0.0772 (-5.42%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (HDRSF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Highland Copper Company Inc. to open at $0.0805, and during the day (based on 14 day Average True Range), to move between $0.0740 and $0.0892, which gives a possible trading interval of +/-$0.0076 (+/-9.37%) up or down from last closing price. If Highland Copper Company Inc. takes out the full calculated possible swing range there will be an estimated 18.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0816 (0.04%) than the support at $0.0809 (0.92%), 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 Highland Copper Company Inc. stock A Buy?
Highland Copper Company Inc. 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: 0.716 Hold/Accumulate Upgraded
Predicted Opening Price for Highland Copper Company Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0805 ( 1.35%) | $0.0816 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HDRSF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0838 | 2.70 % | |
| R2 | 0.0825 | 1.15 % | ||
| R1 | 0.0818 | 0.197 % | ||
| Current price: | 0.0816 | |||
| Support | S1 | 0.0792 | -2.89 % | |
| S2 | 0.0785 | -3.85 % | ||
| S3 | 0.0772 | -5.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0889 | 8.95 % | |
| R2 | 0.0854 | 4.66 % | ||
| R1 | 0.0816 | 0.0368 % | ||
| Current price | 0.0816 | |||
| Support | S1 | 0.0809 | -0.92% | |
| S2 | 0.0766 | -6.13% | ||
| S3 | 0.0700 | -14.22% |
FAQ
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