Hammer Fiber Optics Holdings Corp. Stock Forecast
Red day on Tuesday for Hammer Fiber Optics Holdings Corp.
(Updated on Jun 25, 2024)
No changes to the price of Hammer Fiber Optics Holdings Corp. stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.385 to a day high of $0.385. The price has been going up and down for this period, and there has been a 54% gain for the last 2 weeks.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.384, a level that may pose a second chance to hit a runner. According to fan-theory $0.627 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HMMR Signals & Forecast
The Hammer Fiber Optics Holdings Corp. 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 $0.304 and $0.279. 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 Monday, June 24, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Thursday, May 23, 2024 with a target of $0.360. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Hammer Fiber Optics Holdings Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.350 and $0.300. 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, Hammer Fiber Optics Holdings Corp. finds support just below today's level at $0.350. If this is broken, then the next support from accumulated volume will be at $0.300 and $0.290.
In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.76%
Our recommended stop-loss: $0.371 (-3.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (HMMR) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Hammer Fiber Optics Holdings Corp. to open at $0.385, and during the day (based on 14 day Average True Range), to move between $0.341 and $0.429, which gives a possible trading interval of +/-$0.0440 (+/-11.43%) up or down from last closing price. If Hammer Fiber Optics Holdings Corp. takes out the full calculated possible swing range there will be an estimated 22.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.390 (1.30%) than the support at $0.350 (9.09%), 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 Hammer Fiber Optics Holdings Corp. stock A Buy?
Hammer Fiber Optics Holdings Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Hammer Fiber Optics Holdings Corp. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.385 ( 0%) | $0.385 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HMMR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.385 | - |
| R2 | 0.385 | - |
| R1 | 0.385 | - |
| Price | 0.385 | |
| S1 | 0.385 | - |
| S2 | 0.385 | - |
| S3 | 0.385 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.400 | 3.90% |
| R1 | 0.390 | 1.30% |
| Price | 0.385 | |
| S1 | 0.350 | -9.09% |
| S2 | 0.300 | -22.08% |
| S3 | 0.290 | -24.68% |
FAQ
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