Hemisphere Energy Corporation Stock Forecast

Green day on Thursday for Hemisphere Energy Corporation
(Updated on May 02, 2024)

HME.V Signals & Forecast

There are few to no technical positive signals at the moment. The Hemisphere Energy Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.70 and $1.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -4.02%. 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). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Hemisphere Energy Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.55 and $1.54. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Hemisphere Energy Corporation finds support just below today's level at $1.55. If this is broken, then the next support from accumulated volume will be at $1.54 and $1.40.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0500 between high and low, or 3.07%. For the last week the stock has had daily average volatility of 3.40%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HME.V) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Hemisphere Energy Corporation to open at $1.66, and during the day (based on 14 day Average True Range), to move between $1.62 and $1.72, which gives a possible trading interval of +/-$0.0522 (+/-3.12%) up or down from last closing price. If Hemisphere Energy Corporation takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.69 (1.20%) than the support at $1.55 (7.19%), 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 Hemisphere Energy Corporation stock A Buy?

The Hemisphere Energy Corporation stock holds several negative signals and despite the positive trend, we believe Hemisphere Energy Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.236 Sell Candidate Unchanged

Predicted Opening Price for Hemisphere Energy Corporation of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.