Horizon Space Acquisition I Corp. Stock Forecast
Green day on Wednesday for Horizon Space Acquisition I Corp.
(Updated on Jun 26, 2024)
The Horizon Space Acquisition I Corp. stock price gained 0.0907% on the last trading day (Wednesday, 26th Jun 2024), rising from $11.02 to $11.03. During the last trading day the stock fluctuated 0% from a day low at $11.03 to a day high of $11.03. The price has risen in 5 of the last 10 days and is up by 0.46% over the past 2 weeks. Volume fell on the last day by -257 shares and in total, 260 shares were bought and sold for approximately $2.87 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $11.02 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $11.11 sometime during the next 3 months.
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HSPO Signals & Forecast
The Horizon Space Acquisition I 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 $11.01 and $10.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 1.47%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Horizon Space Acquisition I Corp. stock
Horizon Space Acquisition I Corp. finds support from accumulated volume at $11.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.0363%
Our recommended stop-loss: $10.15 (-7.98%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (HSPO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Horizon Space Acquisition I Corp. Ordinary Shares to open at $11.03, and during the day (based on 14 day Average True Range), to move between $11.02 and $11.04, which gives a possible trading interval of +/-$0.0111 (+/-0.10%) up or down from last closing price. If Horizon Space Acquisition I Corp. Ordinary Shares takes out the full calculated possible swing range there will be an estimated 0.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.01, some $0.0200 (0.18%) from the current price of $11.03, our system finds the risk reward attractive.
Is Horizon Space Acquisition I Corp. Ordinary Shares stock A Buy?
Horizon Space Acquisition I 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 Horizon Space Acquisition I Corp. Ordinary Shares of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $11.03 ( 0%) | $11.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSPO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.03 | - |
| R2 | 11.03 | - |
| R1 | 11.03 | - |
| Price | 11.03 | |
| S1 | 11.03 | - |
| S2 | 11.03 | - |
| S3 | 11.03 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 11.03 | |
| S1 | 11.01 | -0.181% |
| S2 | 10.99 | -0.363% |
| S3 | 10.97 | -0.544% |
FAQ
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