Helix Energy Solutions Group Inc Stock Forecast
Helix Energy Solutions Group Inc stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Helix Energy Solutions Group Inc stock price gained 0.185% on the last trading day (Thursday, 28th Mar 2024), rising from $10.82 to $10.84. During the last trading day the stock fluctuated 1.48% from a day low at $10.82 to a day high of $10.98. The price has risen in 9 of the last 10 days and is up by 10.84% over the past 2 weeks. Volume fell on the last day by -95 thousand shares and in total, 1 million shares were bought and sold for approximately $14.28 million. 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 stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $10.49, a level that may pose a second chance to hit a runner. According to fan-theory $11.77 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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HLX Signals & Forecast
Mostly positive signals in the chart today. The Helix Energy Solutions Group Inc 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 $10.64 and $9.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 20.44%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Helix Energy Solutions Group Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.57 and $9.43. 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, Helix Energy Solutions Group Inc finds support just below today's level at $9.57. If this is broken, then the next support from accumulated volume will be at $9.43 and $9.11.
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 $0.160 between high and low, or 1.48%. For the last week, the stock has had daily average volatility of 2.41%.
The Helix Energy Solutions Group Inc stock is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $10.33 (-4.74%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (HLX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Helix Energy Solutions Group Inc to open at $10.88, and during the day (based on 14 day Average True Range), to move between $10.55 and $11.13, which gives a possible trading interval of +/-$0.286 (+/-2.64%) up or down from last closing price. If Helix Energy Solutions Group Inc takes out the full calculated possible swing range there will be an estimated 5.28% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $9.57, some $1.27 (11.72%) from the current price of $10.84, our system finds the risk reward attractive.
Is Helix Energy Solutions Group Inc stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Helix Energy Solutions Group Inc stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.453 Buy Candidate Downgraded
Predicted Opening Price for Helix Energy Solutions Group Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$10.88 ( 0.369%) | $10.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HLX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.04 | 1.85 % | |
R2 | 10.98 | 1.28 % | ||
R1 | 10.94 | 0.93 % | ||
Current price: | 10.84 | |||
Support | S1 | 10.82 | -0.195 % | |
S2 | 10.78 | -0.543 % | ||
S3 | 10.72 | -1.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 10.84 | |||
Support | S1 | 9.57 | -11.72% | |
S2 | 9.43 | -13.01% | ||
S3 | 9.11 | -15.96% |
FAQ
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