Bullish vs. Bearish (15 opinions)
Social Sentiment 0.08
HMY Forecast and Technical Stock Analysis
Buy candidate since 2019-08-14 Gain 9.09%
Harmony Gold Mining Company Limited gained 10.20% in the last trading day ( Tuesday, 20th Aug 2019 ), rising from $2.94 to $3.24 During the day the stock fluctuated 9.26% from a day low at $2.97 to a day high of $3.25. The price has risen in 5 of the last 10 days and is up by 11.72% 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, 2.70 million more shares were traded than the day before. In total, 10.73 million shares bought and sold for approximately $34.77 million.
Quick summary:
- 30 day high of the HMY stock price was $3.25 and low was $2.39.
- 90 day high was $3.25 and low was $1.57.
- 52 week high for Harmony Gold Mining Company Limited - $3.25 and low - $1.47.
Trend
Harmony Gold Mining Company Limited has broken the wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $3.20, a level that may pose a second chance to hit a runner. According to fan-theory $3.64 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Signals
Only positive signals in the chart today. Harmony Gold Mining Company Limited holds buy signals from both short- and long-term moving averages. In addition, 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 $2.99 and $2.63. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday August 13, 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.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock holds a RSI14 at 82 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $2.97 and $2.90.
There is 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, Harmony Gold Mining Company Limited finds support just below today's level at $2.97. If this is broken, then the next support from accumulated volume will be at $2.90 and $2.85.
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 $0.28 between high and low, or 9.26%. For the last week, the stock has had a daily average volatility of 5.87%.
The stock is extremely overbought on RSI14 (82). Normally this will 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: $3.10 (-4.29%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from pivot bottom found 5 days ago.)
5.87 %
Average volatilityOverall risk:
Very Low Low Medium High Very High
Evaluation
Harmony Gold Mining Company Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!
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