Heliogen, Inc. Stock Forecast
Volatile ride for Heliogen, Inc. stock price on Tuesday moving between $1.00 and $1.47
(Updated on May 07, 2024)
The Heliogen, Inc. stock price gained 1.39% on the last trading day (Tuesday, 7th May 2024), rising from $1.44 to $1.46. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 47.00% from a day low at $1.00 to a day high of $1.47. The price has risen in 6 of the last 10 days and is up by 6.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 37 thousand shares were bought and sold for approximately $54.58 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.50 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.73% during the next 3 months and, with a 90% probability hold a price between $1.00 and $1.28 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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HLGN Signals & Forecast
Mostly positive signals in the chart today. The Heliogen, 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 $1.36 and $1.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 22.02%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Heliogen, Inc. 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.
Support, Risk & Stop-loss for Heliogen, Inc. stock
Heliogen, Inc. finds support from accumulated volume at $1.45 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 $0.470 between high and low, or 47.00%. For the last week, the stock has had daily average volatility of 15.63%.
Since the Heliogen, Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $1.40 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (HLGN) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Heliogen, Inc. to open at $1.31, and during the day (based on 14 day Average True Range), to move between $1.28 and $1.64, which gives a possible trading interval of +/-$0.178 (+/-12.21%) up or down from last closing price. If Heliogen, Inc. takes out the full calculated possible swing range there will be an estimated 24.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.45 (0.68%) than the resistance at $1.50 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Heliogen, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.096 Buy Candidate Unchanged
Predicted Opening Price for Heliogen, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.31 ( 10.27%) | $1.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HLGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.78 | 21.92 % | |
| R2 | 1.60 | 9.62 % | ||
| R1 | 1.49 | 2.02 % | ||
| Current price: | 1.46 | |||
| Support | S1 | 1.13 | -22.57 % | |
| S2 | 1.02 | -30.17 % | ||
| S3 | 0.84 | -42.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.65 | 13.01 % | |
| R2 | 1.55 | 6.16 % | ||
| R1 | 1.50 | 2.74 % | ||
| Current price | 1.46 | |||
| Support | S1 | 1.45 | -0.685% | |
| S2 | 1.40 | -4.11% | ||
| S3 | 1.22 | -16.44% |
FAQ
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