Horizonte Minerals Stock Forecast
High volatility in Horizonte Minerals stock price on Monday which ended trading at £0.425
(Updated on Apr 22, 2024)
The Horizonte Minerals stock price gained 2.41% on the last trading day (Monday, 22nd Apr 2024), rising from £0.415 to £0.425. During the last trading day the stock fluctuated 12.50% from a day low at £0.400 to a day high of £0.450. The price has risen in 4 of the last 10 days but is still down by -81.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately £2.16 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 8.97%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 £0.693 and £2.61. 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 £0.415 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 £0.0500 between high and low, or 12.50%. For the last week, the stock has had daily average volatility of 23.18%.
Our recommended stop-loss: £0.406 (-4.36%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (HZM.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Horizonte Minerals to open at £0.425, and during the day (based on 14 day Average True Range), to move between -£0.0555 and £0.91, which gives a possible trading interval of +/-£0.480 (+/-113.05%) up or down from last closing price. If Horizonte Minerals takes out the full calculated possible swing range there will be an estimated 226.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.415 (2.35%) than the resistance at £0.475 (11.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Horizonte Minerals will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Horizonte Minerals, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.46% in the first trading day after earnings release.
Is Horizonte Minerals stock A Buy?
Horizonte Minerals holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Horizonte Minerals of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £0.425 ( 0.00000000%) | £0.425 |
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 | 0.475 | 11.76 % | |
| R2 | 0.456 | 7.27 % | ||
| R1 | 0.444 | 4.49 % | ||
| Current price: | 0.425 | |||
| Support | S1 | 0.406 | -4.49 % | |
| S2 | 0.394 | -7.27 % | ||
| S3 | 0.375 | -11.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.475 | 11.76 % | ||
| Current price | 0.425 | |||
| Support | S1 | 0.415 | -2.35% | |
| S2 | 0.400 | -5.88% | ||
| S3 | 0.390 | -8.24% |
FAQ
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