Harvest Natural Resources, Inc Stock Forecast

Red day on Tuesday for Harvest Natural Resources, Inc stock after losing 0%
(Updated on Sep 24, 2019)

HNR.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, September 09, 2019, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Harvest Natural Resources, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.0470 and £0.0618. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Harvest Natural Resources, Inc stock

Harvest Natural Resources, Inc finds support from accumulated volume at £0.0455 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Harvest Natural Resources, Inc is oversold on RSI14 (3). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HNR.L) For The Upcoming Trading Day Of Wednesday 25th

For the upcoming trading day on Wednesday, 25th we expect Harvest Natural Resources, Inc to open at £0.0470, and during the day (based on 14 day Average True Range), to move between £0.0445 and £0.0495, which gives a possible trading interval of +/-£0.0025 (+/-5.35%) up or down from last closing price. If Harvest Natural Resources, Inc takes out the full calculated possible swing range there will be an estimated 10.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.0475 (1.06%) than the support at £0.0455 (3.19%), 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 Harvest Natural Resources, Inc stock A Buy?

Harvest Natural Resources, Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.122 Sell Candidate Unchanged

Predicted Opening Price for Harvest Natural Resources, Inc of Wednesday, September 25, 2019

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