Hycroft Mining Holding Corporation Stock Forecast

Big movements in Hycroft Mining Holding Corporation stock price on Thursday moving 40.80% between high and low
(Updated on May 16, 2024)

HYMCL Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -21.38%. 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). Hycroft Mining Holding Corporation 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". The very low volume increases the risk and reduces the other technical signals issued. The Hycroft Mining Holding Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0249 and $0.0245. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Hycroft Mining Holding Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0204 and $0.0200. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Hycroft Mining Holding Corporation finds support just below today's level at $0.0204. If this is broken, then the next support from accumulated volume will be at $0.0200 and $0.0199.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0102 between high and low, or 40.80%. For the last week, the stock has had daily average volatility of 28.90%.

Our recommended stop-loss: $0.0239 (-4.20%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (HYMCL) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Hycroft Mining Holding Corporation to open at $0.0284, and during the day (based on 14 day Average True Range), to move between $0.0191 and $0.0309, which gives a possible trading interval of +/-$0.0059 (+/-23.55%) up or down from last closing price. If Hycroft Mining Holding Corporation takes out the full calculated possible swing range there will be an estimated 47.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0260 (4.00%) than the support at $0.0204 (18.40%), 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 Hycroft Mining Holding Corporation 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 Hycroft Mining Holding Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.160 Buy Candidate Downgraded

Predicted Opening Price for Hycroft Mining Holding Corporation of Friday, May 17, 2024

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