Hexagon Composites ASA Stock Forecast
Green day on Friday for Hexagon Composites ASA
(Updated on Apr 26, 2024)
The Hexagon Composites ASA stock price gained 0.359% on the last trading day (Friday, 26th Apr 2024), rising from kr16.72 to kr16.78. During the last trading day the stock fluctuated 2.66% from a day low at kr16.52 to a day high of kr16.96. The price has fallen in 6 of the last 10 days and is down by -9% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 163 thousand more shares were traded than the day before. In total, 314 thousand shares were bought and sold for approximately kr5.27 million.
The stock lies in the middle of a 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 -28.48% during the next 3 months and, with a 90% probability hold a price between kr11.51 and kr12.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HEX.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.33%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hexagon Composites ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr16.92 and kr18.45. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hexagon Composites ASA stock
Hexagon Composites ASA finds support from accumulated volume at kr16.72 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 kr0.440 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 3.09%.
Hexagon Composites ASA is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HEX.OL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Hexagon Composites ASA to open at kr16.75, and during the day (based on 14 day Average True Range), to move between kr16.07 and kr17.49, which gives a possible trading interval of +/-kr0.706 (+/-4.21%) up or down from last closing price. If Hexagon Composites ASA takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr16.72 (0.36%) than the resistance at kr18.44 (9.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hexagon Composites ASA stock A Buy?
Hexagon Composites ASA holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.399 Sell Candidate Unchanged
Predicted Opening Price for Hexagon Composites ASA of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| kr16.75 ( 0.159%) | kr16.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HEX.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.19 | 2.46 % | |
| R2 | 17.03 | 1.46 % | ||
| R1 | 16.92 | 0.84 % | ||
| Current price: | 16.78 | |||
| Support | S1 | 16.59 | -1.16 % | |
| S2 | 16.48 | -1.78 % | ||
| S3 | 16.31 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.42 | 15.73 % | |
| R2 | 19.26 | 14.78 % | ||
| R1 | 18.44 | 9.89 % | ||
| Current price | 16.78 | |||
| Support | S1 | 16.72 | -0.358% | |
| S2 | 16.56 | -1.31% | ||
| S3 | 0 | . |
HEX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2018 | Apr 20, 2018 | Apr 30, 2018 | kr0.300 | 1.43% |
| 2 | Mar 18, 2015 | Apr 22, 2015 | May 07, 2015 | kr0.620 | 2.56% |
| 3 | Mar 20, 2014 | Apr 23, 2014 | May 06, 2014 | kr0.330 | 0.91% |
| 4 | Mar 21, 2013 | Apr 18, 2013 | Apr 29, 2013 | kr0.150 | 2.33% |
| 5 | Mar 18, 2011 | Apr 15, 2011 | May 19, 2011 | kr0.0700 | 1.16% |
FAQ
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