SunHydrogen, Inc. Stock Forecast
High volatility in SunHydrogen, Inc. stock price on Thursday which ended trading at $0.0161
(Updated on Mar 28, 2024)
The SunHydrogen, Inc. stock price gained 5.63% on the last trading day (Thursday, 28th Mar 2024), rising from $0.0152 to $0.0161. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.97% from a day low at $0.0147 to a day high of $0.0169. The price has risen in 8 of the last 10 days and is up by 34.46% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately $278.04 thousand.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $0.0126 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $0.0147 sometime during the next 3 months.
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HYSR Signals & Forecast
The SunHydrogen, Inc. 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 $0.0141 and $0.0119. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 12, 2024, and so far it has risen 54.38%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). SunHydrogen, 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for SunHydrogen, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0133 and $0.0125. 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, SunHydrogen, Inc. finds support just below today's level at $0.0133. If this is broken, then the next support from accumulated volume will be at $0.0125 and $0.0124.
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 $0.0022 between high and low, or 14.97%. For the last week, the stock has had daily average volatility of 10.46%.
The SunHydrogen, Inc. stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $0.0155 (-3.36%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (HYSR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SunHydrogen, Inc. to open at $0.0159, and during the day (based on 14 day Average True Range), to move between $0.0149 and $0.0172, which gives a possible trading interval of +/-$0.0012 (+/-7.36%) up or down from last closing price. If SunHydrogen, Inc. takes out the full calculated possible swing range there will be an estimated 14.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0133, some $0.0028 (17.16%) from the current price of $0.0161, our system finds the risk reward attractive.
Is SunHydrogen, Inc. stock A Buy?
SunHydrogen, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 SunHydrogen, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.0159 ( 1.06%) | $0.0161 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HYSR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0181 | 12.64 % | |
R2 | 0.0172 | 7.41 % | ||
R1 | 0.0167 | 4.18 % | ||
Current price: | 0.0161 | |||
Support | S1 | 0.0150 | -6.29 % | |
S2 | 0.0145 | -9.53 % | ||
S3 | 0.0137 | -14.76 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.0161 | |||
Support | S1 | 0.0133 | -17.16% | |
S2 | 0.0125 | -22.14% | ||
S3 | 0.0124 | -23.08% |
FAQ
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