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AI Analysis of HDD.L
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Hardide stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)

Buy or Hold candidate since Apr 23, 2024 PDF

No changes to the price of Hardide stock on the last trading day (Wednesday, 24th Apr 2024). During the last trading day the stock fluctuated 3.90% from a day low at £6.25 to a day high of £6.49. The price has been going up and down for this period, and there has been a 16.28% gain for the last 2 weeks.

The stockhas broken the very wide and 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 £4.57, a level that may pose a second chance to hit a runner. According to fan-theory £7.05 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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HDD.L Signals & Forecast

The Hardide 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 £5.72 and £5.76. 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). 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 Tuesday, March 05, 2024, and so far it has fallen -5.30%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Hardide stock

On the downside, the stock finds support just below today's level from accumulated volume at £5.63 and £5.38. 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, Hardide finds support just below today's level at £5.63. If this is broken, then the next support from accumulated volume will be at £5.38 and £4.85.

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 £0.244 between high and low, or 3.90%. For the last week the stock has had daily average volatility of 5.88%.

Our recommended stop-loss: £5.94 (-4.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)

Trading Expectations (HDD.L) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Hardide to open at £6.33, and during the day (based on 14 day Average True Range), to move between £5.94 and £6.56, which gives a possible trading interval of +/-£0.306 (+/-4.90%) up or down from last closing price. If Hardide takes out the full calculated possible swing range there will be an estimated 9.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £6.35 (1.60%) than the support at £5.63 (10.00%), 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 Hardide stock A Buy?

Hardide 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 Buy to a Hold/Accumulate candidate.

Current score: 0.145 Hold/Accumulate Downgraded

Predicted Opening Price for Hardide of Thursday, April 25, 2024

Fair opening price April 25, 2024 Current price
£6.33 ( 1.30%) £6.25

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for HDD.L

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 6.58 5.21 %
R2 6.48 3.71 %
R1 6.42 2.79 %
Current price: 6.25
Support S1 6.24 -0.190 %
S2 6.18 -1.11 %
S3 6.09 -2.60 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 7.50 20.00 %
R2 6.60 5.60 %
R1 6.35 1.60 %
Current price 6.25
Support S1 5.63 -10.00%
S2 5.38 -14.00%
S3 4.85 -22.40%

FAQ

What is the symbol for Hardide Stock and on which exchange is it traded?
The symbol for Hardide is HDD.L and it is traded on the XLON (London Stock Exchange).

Should I buy or sell Hardide Stock?
Hardide 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 Buy to a Hold/Accumulate candidate.

How to buy Hardide Stock?
Hardide Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Hardide Stock.

What's the current price of Hardide Stock?
As of the end of day on the Apr 24, 2024, the price of an Hardide (HDD.L) share was £6.25.

What is the 52-week high and low for Hardide Stock?
The 52-week high for Hardide Stock is £16.00 and the 52-week low is £4.63.

What is the market capitalization of Hardide Stock?
As of the Apr 24, 2024, the market capitalization of Hardide is 4.904M.

When is the next earnings date for Hardide?
The upcoming earnings date for Hardide is May 06, 2024.
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About Hardide

Hardide Hardide plc manufactures and sells advanced tungsten carbide/tungsten metal matrix composite coatings in the United Kingdom, Europe, North America, and internationally. Its products are used in various industries, including energy, aerospace, flow control, power generation, and precision engineering. The company was founded in 2000 and is headquartered in Bicester, the United Kingdom.... HDD.L Profile

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