High Arctic Energy Services Inc. Stock Forecast

Green day on Friday for High Arctic Energy Services Inc. stock after gaining 0.680%
(Updated on Jun 28, 2024)

HWO.TO Signals & Forecast

The High Arctic Energy Services Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.50. On a fall, the stock will find some support from the long-term average at approximately $1.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). High Arctic Energy Services Inc. 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. The very low volume increases the risk and reduces the other technical signals issued. 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 Wednesday, June 19, 2024, and so far it has fallen -4.52%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for High Arctic Energy Services Inc. stock

High Arctic Energy Services Inc. finds support from accumulated volume at $1.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0300 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 2.05%.

Our recommended stop-loss: $1.42 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (HWO.TO) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect High Arctic Energy Services Inc. to open at $1.47, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.52, which gives a possible trading interval of +/-$0.0427 (+/-2.89%) up or down from last closing price. If High Arctic Energy Services Inc. takes out the full calculated possible swing range there will be an estimated 5.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.51 (2.03%) than the support at $1.45 (2.03%), 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 High Arctic Energy Services Inc. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for High Arctic Energy Services Inc. stock to perform well in the short-term.

Current score: 2.397 Buy Candidate Unchanged

Predicted Opening Price for High Arctic Energy Services Inc. of Tuesday, July 2, 2024

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