Heliogen, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Heliogen, Inc. stock price on Friday moving 15.43% between high and low
(Updated on May 17, 2024)
The Heliogen, Inc. stock price gained 4.59% on the last trading day (Friday, 17th May 2024), rising from $2.18 to $2.28. It has now gained 7 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 15.43% from a day low at $2.00 to a day high of $2.31. The price has risen in 9 of the last 10 days and is up by 59.44% 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, 2 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $32.72 thousand.
Given the current short-term trend, the stock is expected to rise 3.88% during the next 3 months and, with a 90% probability hold a price between $1.26 and $2.37 at the end of this 3-month period.
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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. 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 $1.93 and $1.49. 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 90.56%. 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 $2.18 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.309 between high and low, or 15.43%. For the last week, the stock has had daily average volatility of 16.32%.
The Heliogen, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Heliogen, Inc. has been rising for 7 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: $2.21 (-3.02%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 99 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (HLGN) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Heliogen, Inc. to open at $2.20, and during the day (based on 14 day Average True Range), to move between $2.07 and $2.49, which gives a possible trading interval of +/-$0.207 (+/-9.09%) up or down from last closing price. If Heliogen, Inc. takes out the full calculated possible swing range there will be an estimated 18.18% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.18, some $0.1000 (4.39%) from the current price of $2.28, our system finds the risk reward attractive.
Is Heliogen, Inc. stock A Buy?
Heliogen, Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.438 Strong Buy Candidate Unchanged
Predicted Opening Price for Heliogen, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $2.20 ( 3.64%) | $2.28 |
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 | 2.51 | 9.91 % | |
| R2 | 2.39 | 4.73 % | ||
| R1 | 2.32 | 1.54 % | ||
| Current price: | 2.28 | |||
| Support | S1 | 2.08 | -8.81 % | |
| S2 | 2.01 | -12.01 % | ||
| S3 | 1.89 | -17.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.28 | |||
| Support | S1 | 2.18 | -4.39% | |
| S2 | 1.93 | -15.35% | ||
| S3 | 1.85 | -19.08% |
FAQ
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