Headwater Exploration Inc. Stock Forecast
Headwater Exploration Inc. stock price down 2.02% on Wednesday
(Updated on May 22, 2024)
The Headwater Exploration Inc. stock price fell by -2.02% on the last day (Wednesday, 22nd May 2024) from $7.42 to $7.27. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.77% from a day low at $7.23 to a day high of $7.43. The price has been going up and down for this period, and there has been a -1.36% loss for the last 2 weeks. Volume has increased on the last day by 368 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 799 thousand shares were bought and sold for approximately $5.81 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.20 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.01% during the next 3 months and, with a 90% probability hold a price between $7.78 and $9.51 at the end of this 3-month period.
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HWX.TO Signals & Forecast
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. The Headwater Exploration Inc. 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 $7.54 and $7.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -14.17%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Headwater Exploration Inc. stock
Headwater Exploration Inc. finds support from accumulated volume at $7.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.200 (2.77%) between high and low. For the last week, the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HWX.TO) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Headwater Exploration Inc. to open at $7.31, and during the day (based on 14 day Average True Range), to move between $7.09 and $7.45, which gives a possible trading interval of +/-$0.182 (+/-2.50%) up or down from last closing price. If Headwater Exploration Inc. takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.38 (1.51%) than the support at $7.10 (2.34%), 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 Headwater Exploration Inc. stock A Buy?
The Headwater Exploration Inc. stock holds several negative signals and despite the positive trend, we believe Headwater Exploration Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.271 Sell Candidate Unchanged
Predicted Opening Price for Headwater Exploration Inc. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| $7.31 ( 0.550%) | $7.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HWX.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.51 | 3.30 % | |
| R2 | 7.43 | 2.25 % | ||
| R1 | 7.39 | 1.60 % | ||
| Current price: | 7.27 | |||
| Support | S1 | 7.23 | -0.501 % | |
| S2 | 7.19 | -1.15 % | ||
| S3 | 7.11 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.47 | 16.51 % | |
| R2 | 7.74 | 6.46 % | ||
| R1 | 7.38 | 1.51 % | ||
| Current price | 7.27 | |||
| Support | S1 | 7.10 | -2.34% | |
| S2 | 7.04 | -3.16% | ||
| S3 | 6.98 | -3.99% |
HWX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jun 28, 2024 | $0 | 0% |
| 2 | Mar 07, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.100 | 1.26% |
| 3 | Nov 09, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.100 | 1.62% |
| 4 | Sep 14, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.100 | 1.36% |
| 5 | May 11, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.100 | 1.48% |
FAQ
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