Hazer Group Limited Stock Forecast
Stronger technical forecast for Hazer Group Limited stock price after Friday trading.
(Updated on May 31, 2024)
The Hazer Group Limited stock price gained 4.35% on the last trading day (Friday, 31st May 2024), rising from $0.460 to $0.480. During the last trading day the stock fluctuated 3.16% from a day low at $0.475 to a day high of $0.490. The price has fallen in 7 of the last 10 days and is down by -7.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 121 thousand more shares were traded than the day before. In total, 386 thousand shares were bought and sold for approximately $185.25 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.63% during the next 3 months and, with a 90% probability hold a price between $0.441 and $0.504 at the end of this 3-month period.
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HZR.AX Signals & Forecast
Mostly positive signals in the chart today. The Hazer Group Limited 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 $0.476 and $0.480. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 4.35%. 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). Hazer Group 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.
A buy signal from a double bottom formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should go up by 16.29% to $0.558 within 22 trading days since signal was issued (Monday, June 03, 2024).
Support, Risk & Stop-loss for Hazer Group Limited stock
Hazer Group Limited finds support from accumulated volume at $0.470 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0150 between high and low, or 3.16%. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: $0.455 (-5.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (HZR.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Hazer Group Limited to open at $0.482, and during the day (based on 14 day Average True Range), to move between $0.461 and $0.499, which gives a possible trading interval of +/-$0.0186 (+/-3.88%) up or down from last closing price. If Hazer Group Limited takes out the full calculated possible swing range there will be an estimated 7.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.485 (1.04%) than the support at $0.470 (2.08%), 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 Hazer Group Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.133 Buy Candidate Upgraded
Predicted Opening Price for Hazer Group Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.482 ( 0.347%) | $0.480 |
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 | 0.497 | 3.47 % | |
| R2 | 0.491 | 2.28 % | ||
| R1 | 0.487 | 1.54 % | ||
| Current price: | 0.480 | |||
| Support | S1 | 0.476 | -0.85 % | |
| S2 | 0.472 | -1.58 % | ||
| S3 | 0.467 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.510 | 6.25 % | |
| R2 | 0.500 | 4.17 % | ||
| R1 | 0.485 | 1.04 % | ||
| Current price | 0.480 | |||
| Support | S1 | 0.470 | -2.08% | |
| S2 | 0.465 | -3.12% | ||
| S3 | 0.460 | -4.17% |
FAQ
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