Houston American Energy Corp Stock Forecast

Houston American Energy Corp stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 08, 2024)

HUSA Signals & Forecast

There are mixed signals in the stock today. The Houston American Energy Corp 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 $1.60. On a fall, the stock will find some support from the short-term average at $1.54. 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. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -32.90%. 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). Houston American Energy Corp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Houston American Energy Corp stock

Houston American Energy Corp finds support from accumulated volume at $1.51 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.100 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 5.98%.

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

Trading Expectations (HUSA) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Houston American Energy Corp to open at $1.55, and during the day (based on 14 day Average True Range), to move between $1.38 and $1.72, which gives a possible trading interval of +/-$0.166 (+/-10.70%) up or down from last closing price. If Houston American Energy Corp takes out the full calculated possible swing range there will be an estimated 21.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.56 (0.65%) than the support at $1.51 (2.58%), 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 Houston American Energy Corp stock A Buy?

Houston American Energy Corp 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.086 Sell Candidate Downgraded

Predicted Opening Price for Houston American Energy Corp of Thursday, May 9, 2024

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