Houston Natural Resources Corp. Stock Forecast
Red day on Thursday for Houston Natural Resources Corp. stock after losing 3.00%
(Updated on May 16, 2024)
The Houston Natural Resources Corp. stock price fell by -3.00% on the last day (Thursday, 16th May 2024) from $0.0170 to $0.0165. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 7.19% from a day low at $0.0159 to a day high of $0.0170. The price has fallen in 6 of the last 10 days and is down by -33.78% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -192 thousand shares and in total, 141 thousand shares were bought and sold for approximately $2.32 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.0164 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Houston Natural Resources Corp. stock with a 90% probability to be traded between $0.0165 and $0.0273 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HNRC Signals & Forecast
There are few to no technical positive signals at the moment. The Houston Natural Resources Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0183 and $0.0195. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -33.78%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Houston Natural Resources Corp. stock
Houston Natural Resources Corp. finds support from accumulated volume at $0.0162 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0011 between high and low, or 7.19%. For the last week the stock has had daily average volatility of 11.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HNRC) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Houston Natural Resources Corp. to open at $0.0165, and during the day (based on 14 day Average True Range), to move between $0.0137 and $0.0193, which gives a possible trading interval of +/-$0.0028 (+/-16.98%) up or down from last closing price. If Houston Natural Resources Corp. takes out the full calculated possible swing range there will be an estimated 33.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0162 (1.76%) than the resistance at $0.0183 (10.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Houston Natural Resources Corp. stock A Buy?
Houston Natural Resources Corp. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.793 Sell Candidate Unchanged
Predicted Opening Price for Houston Natural Resources Corp. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $0.0165 ( 0.243%) | $0.0165 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HNRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0176 | 6.67 % | |
| R2 | 0.0172 | 4.03 % | ||
| R1 | 0.0169 | 2.40 % | ||
| Current price: | 0.0165 | |||
| Support | S1 | 0.0160 | -2.88 % | |
| S2 | 0.0157 | -4.51 % | ||
| S3 | 0.0153 | -7.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0200 | 21.29 % | |
| R2 | 0.0189 | 14.61 % | ||
| R1 | 0.0183 | 10.67 % | ||
| Current price | 0.0165 | |||
| Support | S1 | 0.0162 | -1.76% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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