Haymaker Acquisition Corp II Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Haymaker Acquisition Corp II stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Haymaker Acquisition Corp II stock price fell by -0.0951% on the last day (Friday, 28th Jun 2024) from $10.52 to $10.51. During the last trading day the stock fluctuated 0.0999% from a day low at $10.51 to a day high of $10.52. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -353 thousand shares and in total, 41 thousand shares were bought and sold for approximately $433.60 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.51 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Haymaker Acquisition Corp II stock with a 90% probability to be traded between $10.60 and $10.68 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 $10.52 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 -0.285%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
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 $10.49 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 $0.0105 between high and low, or 0.0999%. For the last week the stock has had daily average volatility of 0.134%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HYAC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Haymaker Acquisition Corp II to open at $10.51, 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 +/-$0.0200 (+/-0.19%) 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 0.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.52 (0.05%) than the support at $10.49 (0.19%), 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 Haymaker Acquisition Corp II stock A Buy?
Haymaker Acquisition Corp II holds several negative signals and is within a narrow and falling trend, so we believe 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 Buy to a Sell candidate.
Current score: -1.012 Sell Candidate Downgraded
Predicted Opening Price for Haymaker Acquisition Corp II of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $10.51 ( 0.0333%) | $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 | 10.52 | 0.133% |
| R2 | 10.52 | 0.0950% |
| R1 | 10.52 | 0.0715% |
| Price | 10.51 | |
| S1 | 10.51 | -0.0049% |
| S2 | 10.51 | -0.0284% |
| S3 | 10.50 | -0.0666% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.54 | 0.238% |
| R2 | 10.52 | 0.0951% |
| R1 | 10.52 | 0.0476% |
| Price | 10.51 | |
| S1 | 10.49 | -0.190% |
| S2 | 10.47 | -0.381% |
| S3 | 10.43 | -0.761% |
FAQ
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