Horizonte Minerals Stock Forecast
Red day on Thursday for Horizonte Minerals
(Updated on Apr 25, 2024)
The Horizonte Minerals stock price fell by -3.14% on the last day (Thursday, 25th Apr 2024) from £0.475 to £0.460. During the last trading day the stock fluctuated 7.56% from a day low at £0.450 to a day high of £0.484. The price has fallen in 5 of the last 10 days and is down by -80.63% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 4 million shares were bought and sold for approximately £1.82 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HZM.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 17.97%. 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 Horizonte Minerals stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £2.36. On a fall, the stock will find some support from the short-term average at £0.441. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Horizonte Minerals stock
On the downside, the stock finds support just below today's level from accumulated volume at £0.425 and £0.400. 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, Horizonte Minerals finds support just below today's level at £0.425. If this is broken, then the next support from accumulated volume will be at £0.400 and £0.390.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £0.0340 between high and low, or 7.56%. For the last week, the stock has had daily average volatility of 12.47%.
Horizonte Minerals is oversold on RSI14 (13). 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 (HZM.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Horizonte Minerals to open at £0.465, and during the day (based on 14 day Average True Range), to move between £0.0613 and £0.86, which gives a possible trading interval of +/-£0.399 (+/-86.67%) up or down from last closing price. If Horizonte Minerals takes out the full calculated possible swing range there will be an estimated 173.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.475 (3.24%) than the support at £0.425 (7.63%), 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 Horizonte Minerals stock A Buy?
Horizonte Minerals holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.889 Sell Candidate Unchanged
Predicted Opening Price for Horizonte Minerals of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
£0.465 ( 1.00%) | £0.460 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HZM.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.499 | 8.39 % | |
R2 | 0.486 | 5.57 % | ||
R1 | 0.478 | 3.82 % | ||
Current price: | 0.460 | |||
Support | S1 | 0.452 | -1.82 % | |
S2 | 0.444 | -3.57 % | ||
S3 | 0.431 | -6.39 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0.500 | 8.67 % | ||
R1 | 0.475 | 3.24 % | ||
Current price | 0.460 | |||
Support | S1 | 0.425 | -7.63% | |
S2 | 0.400 | -13.06% | ||
S3 | 0.390 | -15.24% |
FAQ
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