Hazer Group Limited Stock Forecast
Hazer Group Limited stock price up 1.96% on Friday
(Updated on May 17, 2024)
The Hazer Group Limited stock price gained 1.96% on the last trading day (Friday, 17th May 2024), rising from $0.510 to $0.520. 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 4.00% from a day low at $0.500 to a day high of $0.520. The price has risen in 5 of the last 10 days and is up by 11.83% over the past 2 weeks. Volume fell on the last day by -335 thousand shares and in total, 341 thousand shares were bought and sold for approximately $177.11 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 stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.489, a level that may pose a second chance to hit a runner. According to fan-theory $0.526 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HZR.AX Signals & Forecast
The Hazer Group 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 $0.485 and $0.477. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 13.04%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.
A buy signal from a double bottom formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should go up by 0.430% to $0.522 within 9 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Hazer Group Limited stock
Hazer Group Limited finds support from accumulated volume at $0.500 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0200 between high and low, or 4.00%. For the last week the stock has had daily average volatility of 3.87%.
Our recommended stop-loss: $0.502 (-3.45%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (HZR.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hazer Group Limited to open at $0.513, and during the day (based on 14 day Average True Range), to move between $0.502 and $0.538, which gives a possible trading interval of +/-$0.0181 (+/-3.48%) up or down from last closing price. If Hazer Group Limited takes out the full calculated possible swing range there will be an estimated 6.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.500, some $0.0200 (3.85%) from the current price of $0.520, our system finds the risk reward attractive.
Is Hazer Group Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.230 Buy Candidate Unchanged
Predicted Opening Price for Hazer Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.513 ( 1.28%) | $0.520 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HZR.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.533 | 2.56 % | |
| R2 | 0.526 | 1.09 % | ||
| R1 | 0.521 | 0.187 % | ||
| Current price: | 0.520 | |||
| Support | S1 | 0.506 | -2.75 % | |
| S2 | 0.501 | -3.66 % | ||
| S3 | 0.493 | -5.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.520 | |||
| Support | S1 | 0.500 | -3.85% | |
| S2 | 0.490 | -5.77% | ||
| S3 | 0.485 | -6.73% |
FAQ
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