Haymaker Acquisition Corp II Stock Forecast
Haymaker Acquisition Corp II stock price down 0.0941% on Wednesday
(Updated on Jun 26, 2024)
The Haymaker Acquisition Corp II stock price fell by -0.0941% on the last day (Wednesday, 26th Jun 2024) from $10.52 to $10.51. During the last trading day the stock fluctuated 0.190% from a day low at $10.51 to a day high of $10.53. The price has fallen in 4 of the last 10 days and is down by -0.19% for this period. Volume has increased on the last day by 80 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, 80 thousand shares were bought and sold for approximately $841.42 thousand.
The stock has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $10.51 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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HYAC Signals & Forecast
There are few to no technical positive signals at the moment. The Haymaker Acquisition Corp II 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 $10.51 and $10.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -0.284%. 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). Haymaker Acquisition Corp II gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -0.400% to $10.47 within 43 trading days since signal was issued (Friday, August 09, 2024).
Support, Risk & Stop-loss for Haymaker Acquisition Corp II stock
Haymaker Acquisition Corp II finds support from accumulated volume at $10.51 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 0.190%. For the last week the stock has had daily average volatility of 0.133%.
Our recommended stop-loss: $10.05 (-4.41%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (HYAC) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Haymaker Acquisition Corp II to open at $10.52, and during the day (based on 14 day Average True Range), to move between $10.49 and $10.53, which gives a possible trading interval of +/-$0.0217 (+/-0.21%) up or down from last closing price. If Haymaker Acquisition Corp II takes out the full calculated possible swing range there will be an estimated 0.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.51 (0.00%) than the resistance at $10.52 (0.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Haymaker Acquisition Corp II stock A Buy?
Haymaker Acquisition Corp II holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Haymaker Acquisition Corp II of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $10.52 ( 0.0628%) | $10.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HYAC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.54 | 0.253% |
| R2 | 10.53 | 0.180% |
| R1 | 10.52 | 0.135% |
| Price | 10.51 | |
| S1 | 10.51 | -0.0099% |
| S2 | 10.50 | -0.0548% |
| S3 | 10.50 | -0.127% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.54 | 0.237% |
| R2 | 10.52 | 0.0942% |
| R1 | 10.52 | 0.0466% |
| Price | 10.51 | |
| S1 | 10.51 | -0.0010% |
| S2 | 10.47 | -0.382% |
| S3 | 10.43 | -0.762% |
FAQ
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