Hochschild Mining Plc Forecast and Stock Analysis
Technical HOC.L stock analysis for Wednesday June 19, 2019.
Hochschild Mining Plc fell by -2.71% in the last day ( Wednesday, 19th Jun 2019 ) from £180.50 to £175.60 During day the stock fluctuated 3.56% from a day low at £174.30 to a day high of £180.50. The price has risen in 6 of the last 10 days and is up by 6.42% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -532 535 shares and in total 613 148 shares bought and sold for approximately £107.67 million.
- 30 day high of the HOC.L stock price was £184.00 and low was £153.50.
- 90 day high was £211.60 and low was £153.50.
- 52 week high for the Hochschild Mining Plc - £211.60 and low - £1.65.
Hochschild Mining Plc lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £179.78 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.71% during the next 3 months and, with 90% probability hold a price between £116.90 and £144.34 at the end of this period.
Hochschild Mining Plc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately £176.20. On a fall, the stock will find some support from the long-term average at approximately £170.21. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday June 18, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
Hochschild Mining Plc finds support from accumulated volume at £168.00.
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 £6.20 between high and low, or 3.56%. For the last week, the stock has had a daily average volatility of 2.92%.
Our recommended stoploss: £166.41 (-5.23%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)
2.92 %Average volatility
Very Low Low Medium High Very High
Hochschild Mining Plc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
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