Hillgrove Resources Limited Stock Forecast
Green day on Friday for Hillgrove Resources Limited stock after gaining 2.41%
(Updated on May 17, 2024)
The Hillgrove Resources Limited stock price gained 2.41% on the last trading day (Friday, 17th May 2024), rising from $0.0830 to $0.0850. During the last trading day the stock fluctuated 3.61% from a day low at $0.0830 to a day high of $0.0860. The price has risen in 6 of the last 10 days and is up by 13.33% over the past 2 weeks. Volume fell on the last day by -15 million shares and in total, 3 million shares were bought and sold for approximately $259.15 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 30.30% during the next 3 months and, with a 90% probability hold a price between $0.0966 and $0.122 at the end of this 3-month period.
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HGO.AX Signals & Forecast
The Hillgrove Resources Limited 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 $0.0806 and $0.0766. 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 Wednesday, May 15, 2024, and so far it has fallen -3.41%. 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 also not.
Support, Risk & Stop-loss for Hillgrove Resources Limited stock
Hillgrove Resources Limited finds support from accumulated volume at $0.0830 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0030 between high and low, or 3.61%. For the last week the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: $0.0812 (-4.51%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (HGO.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hillgrove Resources Limited to open at $0.0847, and during the day (based on 14 day Average True Range), to move between $0.0806 and $0.0894, which gives a possible trading interval of +/-$0.0044 (+/-5.13%) up or down from last closing price. If Hillgrove Resources Limited takes out the full calculated possible swing range there will be an estimated 10.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0830 (2.35%) than the resistance at $0.0880 (3.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hillgrove Resources Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hillgrove Resources Limited stock to perform well in the short-term.
Current score: 3.402 Buy Candidate Unchanged
Predicted Opening Price for Hillgrove Resources Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0847 ( 0.392%) | $0.0850 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HGO.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0877 | 3.14 % | |
| R2 | 0.0865 | 1.79 % | ||
| R1 | 0.0858 | 0.96 % | ||
| Current price: | 0.0850 | |||
| Support | S1 | 0.0835 | -1.74 % | |
| S2 | 0.0828 | -2.57 % | ||
| S3 | 0.0817 | -3.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0880 | 3.53 % | ||
| Current price | 0.0850 | |||
| Support | S1 | 0.0830 | -2.35% | |
| S2 | 0.0730 | -14.12% | ||
| S3 | 0.0660 | -22.35% |
HGO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2019 | Jun 13, 2019 | Jun 28, 2019 | $0.0147 | 20.38% |
| 2 | Sep 09, 2009 | Sep 16, 2009 | Oct 06, 2009 | $0.0765 | 3.37% |
FAQ
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