Weaker technical forecast for Hudson as stock downgraded to Hold/Accumulate.
(Updated on Dec 08, 2023)
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The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hudson stock with a 90% probability to be traded between $11.56 and $13.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
HDSN Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, November 15, 2023, and so far it has fallen -0.231%. 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). The Hudson 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 $12.67 and $12.61. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
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Support, Risk & Stop-loss for Hudson stock
Hudson finds support from accumulated volume at $12.35 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.310 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 3.79%.
Our recommended stop-loss: $12.53 (-3.48%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (HDSN) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Hudson Technologies to open at $13.02, and during the day (based on 14 day Average True Range), to move between $12.51 and $13.45, which gives a possible trading interval of +/-$0.472 (+/-3.64%) up or down from last closing price. If Hudson Technologies takes out the full calculated possible swing range there will be an estimated 7.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.01 (0.23%) than the support at $12.35 (4.85%), 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 Hudson Technologies stock A Buy?
Hudson 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.390 Open Broker AccountHold/Accumulate Downgraded
Predicted Opening Price for Hudson Technologies of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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