Horizonte Minerals Stock Forecast
High volatility in Horizonte Minerals stock price on Thursday which ended trading at £0.415
(Updated on Apr 18, 2024)
The Horizonte Minerals stock price gained 3.75% on the last trading day (Thursday, 18th Apr 2024), rising from £0.400 to £0.415. During the last trading day the stock fluctuated 12.75% from a day low at £0.399 to a day high of £0.450. The price has risen in 4 of the last 10 days but is still down by -80.47% for this period. Volume fell on the last day by -1 million shares and in total, 5 million shares were bought and sold for approximately £1.89 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 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 6.41%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Horizonte Minerals 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 £1.25 and £2.81. 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).
Support, Risk & Stop-loss for Horizonte Minerals stock
Horizonte Minerals finds support from accumulated volume at £0.400 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £0.0509 between high and low, or 12.75%. For the last week, the stock has had daily average volatility of 51.50%.
Horizonte Minerals is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 19th
For the upcoming trading day on Friday, 19th we expect Horizonte Minerals to open at £0.421, and during the day (based on 14 day Average True Range), to move between -£0.138 and £0.97, which gives a possible trading interval of +/-£0.553 (+/-133.17%) up or down from last closing price. If Horizonte Minerals takes out the full calculated possible swing range there will be an estimated 266.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.400 (3.61%) than the resistance at £0.475 (14.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Horizonte Minerals stock A Buy?
Horizonte Minerals 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: -5.312 Strong Sell Candidate Unchanged
Predicted Opening Price for Horizonte Minerals of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £0.421 ( 1.53%) | £0.415 |
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 | 0.472 | 13.80 % | |
| R2 | 0.453 | 9.11 % | ||
| R1 | 0.441 | 6.22 % | ||
| Current price: | 0.415 | |||
| Support | S1 | 0.402 | -3.15 % | |
| S2 | 0.390 | -6.05 % | ||
| S3 | 0.370 | -10.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.475 | 14.46 % | ||
| Current price | 0.415 | |||
| Support | S1 | 0.400 | -3.61% | |
| S2 | 0.390 | -6.02% | ||
| S3 | 0 | . |
FAQ
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