SunHydrogen, Inc. Stock Forecast
Strong day for SunHydrogen, Inc. stock price on Friday rising 5.93% to $0.0159
(Updated on May 03, 2024)
The SunHydrogen, Inc. stock price gained 5.93% on the last trading day (Friday, 3rd May 2024), rising from $0.0150 to $0.0159. It has now gained 3 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 7.43% from a day low at $0.0148 to a day high of $0.0159. The price has risen in 7 of the last 10 days and is up by 19.52% over the past 2 weeks. Volume fell on the last day by -172 thousand shares and in total, 2 million shares were bought and sold for approximately $33.39 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 40.36% during the next 3 months and, with a 90% probability hold a price between $0.0193 and $0.0293 at the end of this 3-month period.
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HYSR Signals & Forecast
A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -14.43%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The SunHydrogen, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0147 and $0.0151. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for SunHydrogen, Inc. stock
SunHydrogen, Inc. finds support from accumulated volume at $0.0152 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0011 between high and low, or 7.43%. For the last week the stock has had daily average volatility of 9.55%.
Our recommended stop-loss: $0.0151 (-4.75%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (HYSR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SunHydrogen, Inc. to open at $0.0155, and during the day (based on 14 day Average True Range), to move between $0.0144 and $0.0174, which gives a possible trading interval of +/-$0.0015 (+/-9.61%) up or down from last closing price. If SunHydrogen, Inc. takes out the full calculated possible swing range there will be an estimated 19.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0159 (0.06%) than the support at $0.0152 (4.34%), 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 SunHydrogen, Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.414 Buy Candidate Upgraded
Predicted Opening Price for SunHydrogen, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0155 ( 2.27%) | $0.0159 |
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 | 0.0166 | 4.66 % | |
| R2 | 0.0162 | 2.01 % | ||
| R1 | 0.0160 | 0.379 % | ||
| Current price: | 0.0159 | |||
| Support | S1 | 0.0151 | -4.91 % | |
| S2 | 0.0149 | -6.54 % | ||
| S3 | 0.0144 | -9.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0186 | 16.87 % | |
| R2 | 0.0185 | 16.43 % | ||
| R1 | 0.0159 | 0.0629 % | ||
| Current price | 0.0159 | |||
| Support | S1 | 0.0152 | -4.34% | |
| S2 | 0.0139 | -12.52% | ||
| S3 | 0.0133 | -16.30% |
FAQ
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