Horizon Oil Limited 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
Horizon Oil Limited stock upgraded to Buy Candidate.
(Updated on May 20, 2024)
The Horizon Oil Limited stock price gained 2.86% on the last trading day (Monday, 20th May 2024), rising from $0.175 to $0.180. During the last trading day the stock fluctuated 2.86% from a day low at $0.175 to a day high of $0.180. The price has been going up and down for this period, and there has been a 5.88% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 309 thousand more shares were traded than the day before. In total, 866 thousand shares were bought and sold for approximately $155.92 thousand.
The stock lies in the middle of a wide and weak 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 8.29% during the next 3 months and, with a 90% probability hold a price between $0.187 and $0.206 at the end of this 3-month period.
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HZN.AX Signals & Forecast
The Horizon Oil Limited 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 $0.180 and $0.179. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Horizon Oil Limited 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -2.70%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Friday, May 10, 2024 and based on theory for this formation the price should fall by -10.56% to $0.161 within 10 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for Horizon Oil Limited stock
Horizon Oil Limited finds support from accumulated volume at $0.175 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0050 (2.86%) between high and low. For the last week, the stock has had daily average volatility of 3.44%.
Our recommended stop-loss: $0.173 (-4.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (HZN.AX) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Horizon Oil Limited to open at $0.178, and during the day (based on 14 day Average True Range), to move between $0.173 and $0.187, which gives a possible trading interval of +/-$0.0067 (+/-3.72%) up or down from last closing price. If Horizon Oil Limited takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.185 (2.78%) than the support at $0.175 (2.78%), 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 Horizon Oil Limited 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 Horizon Oil Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.790 Buy Candidate Upgraded
Predicted Opening Price for Horizon Oil Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.178 ( 0.93%) | $0.180 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HZN.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.183 | 1.85 % | |
| R2 | 0.181 | 0.791 % | ||
| R1 | 0.180 | 0.135 % | ||
| Current price: | 0.180 | |||
| Support | S1 | 0.176 | -1.99 % | |
| S2 | 0.175 | -2.64 % | ||
| S3 | 0.173 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.185 | 2.78 % | ||
| Current price | 0.180 | |||
| Support | S1 | 0.175 | -2.78% | |
| S2 | 0.170 | -5.56% | ||
| S3 | 0.165 | -8.33% |
HZN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | Apr 26, 2024 | $0.0150 | 8.11% |
| 2 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | $0.0150 | 9.09% |
| 3 | Oct 12, 2022 | Oct 12, 2022 | Oct 12, 2022 | $0.0300 | 24.00% |
| 4 | Aug 13, 2021 | Aug 13, 2021 | Aug 13, 2021 | $0.0300 | 33.33% |
| 5 | Aug 02, 2021 | Aug 02, 2021 | Aug 02, 2021 | $0.0140 | 11.67% |
FAQ
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