Weaker Buy Today HEXO ranks #1230 as BUY CANDIDATE #1230 Stronger Buy

HEXO stock forecast HEXO Corp.

HEXO stock forecast

Thursday November 21, 2019 Change 33.68% Price $2.54
Your prediction: Prediction: Request
VOLUME
Buy
TREND
Hold
MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy
Bullish vs. Bearish (114 opinions)
77%
23%
Social Sentiment 0.11

HEXO Forecast and Technical Stock Analysis


Buy candidate since 2019-11-21 PDF

HEXO Corp. gained 33.68% in the last trading day ( Thursday, 21st Nov 2019 ), rising from $1.90 to $2.54 , and has now gained 4 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 day the stock fluctuated 38.46% from a day low at $1.95 to a day high of $2.70. The price has fallen in 5 of the last 10 days , but is still up by 14.93% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 14.35 million more shares were traded than the day before. In total, 22.90 million shares bought and sold for approximately $58.16 million.

Quick summary:

  • 30 day high of the HEXO stock price was $2.86 and low was $1.56.
  • 90 day high was $4.75 and low was $1.56.
  • 52 week high for HEXO Corp. - $8.40 and low - $1.56.
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Trend

HEXO Corp. has 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 on the current trend broken, which is $2.50, a level that may pose a second chance to hit a runner. According to fan-theory $3.93 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.

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Signals

Only positive signals in the chart today. HEXO Corp. holds buy signals from both short- and long-term moving averages, 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 $1.93 and $2.47. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday November 18, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

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Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 58 and the stock is currently not being overbought or oversold

* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.

Support & Resistance

HEXO Corp. finds support from accumulated volume at $2.53.

Support: $2.53 Price: $2.54 Resistance: $2.69

Risk

This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.75 between high and low, or 38.46%. For the last week, the stock has had a daily average volatility of 17.88%.

Our recommended stop-loss: $2.41 (-5.10%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 3 days ago.)

17.88 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Buy Candidate Upgraded

Evaluation

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. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.

The general sentiment holds a neutral evaluation of the stock right now. The sentiment is based upon 114 votes on StockTwits.

Weaker Buy Today HEXO ranks #1230 as BUY CANDIDATE #1230 Stronger Buy
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