New Horizon Aircraft Ltd. Stock Forecast

On Tuesday, New Horizon Aircraft Ltd. stock price gained an impressive 28.80%
(Updated on Jun 25, 2024)

HOVRW Signals & Forecast

There are mixed signals in the stock today. The New Horizon Aircraft Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0365. On a fall, the stock will find some support from the short-term average at $0.0158. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 28.80%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for New Horizon Aircraft Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0127 and $0.0125. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0125 may give a huge drop in the stock price.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 37.20%.

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

Trading Expectations (HOVRW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect New Horizon Aircraft Ltd. to open at $0.0161, and during the day (based on 14 day Average True Range), to move between $0.0063 and $0.0259, which gives a possible trading interval of +/-$0.0098 (+/-60.62%) up or down from last closing price. If New Horizon Aircraft Ltd. takes out the full calculated possible swing range there will be an estimated 121.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0175 (8.70%) than the support at $0.0127 (21.12%), 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 New Horizon Aircraft Ltd. stock A Buy?

New Horizon Aircraft Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -5.251 Strong Sell Candidate Unchanged

Predicted Opening Price for New Horizon Aircraft Ltd. of Wednesday, June 26, 2024

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