HARDWOODS DISTRIBUTION INC (HDI.CA) Stock Technical Analysis
Canada - Toronto Stock Exchange - TSX:HDI - CA4124221074 - Common Stock
Taking everything into account, HDI scores 7 out of 10 in our technical rating. In the last year, HDI was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
HDI has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 28.74, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HDI in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
26.92
2 important support areas can be observed.
- A support zone ranging from 28.02 to 28.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 27.19 to 27.44. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- Resistance @29.58 from a horizontal line in the weekly time frame.
- Resistance @30.43 from a horizontal line in the daily time frame.
- Resistance @32.67 from a trend line in the daily time frame.
- Resistance @34.96 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for HDI.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HDI.CA is up. |
| ChartMill Relative Strength | 62.27 | NEUTRAL | HDI.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HDI.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HDI.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of HDI.CA is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.15 | NEUTRAL | The RSI value for HDI.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests HDI.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78.11 | NEUTRAL | The Stochastics value for HDI.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 2.8 | MEDIUM VOLATILITY | The ATR as a percentage value for HDI.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 30.6 | POSITIVE | The high ADX value value for HDI.CA suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 29.59 | 28.39 | 1.20 (4.06%) | 24.66% |
| An entry @29.59. This is a Buy Stop order right above the resistance zone. | An exit @28.39. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.20 points, which is 4.06%. | When investing 24.66% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
TSX:HDI (1/19/2023, 7:00:00 PM)
29.57
-0.11 (-0.37%)
HARDWOODS DISTRIBUTION INC / HDI.CA FAQ
Can you provide the ChartMill technical rating for HARDWOODS DISTRIBUTION INC?
ChartMill assigns a technical rating of 7 / 10 to HDI.CA.
Can you provide the trend direction for HARDWOODS DISTRIBUTION INC?
The current trend direction for HARDWOODS DISTRIBUTION INC (HDI.CA) is Bullish.
What is the RSI signal for HDI stock?
HARDWOODS DISTRIBUTION INC (HDI.CA) has an RSI value of 58.1475. This indicates that the stock is currently neutral.
What is the MACD signal for HARDWOODS DISTRIBUTION INC (HDI.CA) stock?
The MACD indicator for HARDWOODS DISTRIBUTION INC (HDI.CA) has a value of 0.0376144, indicating a bearish trend.
What is the buy/sell signal for HARDWOODS DISTRIBUTION INC (HDI.CA) stock?
The buy/sell signal for HARDWOODS DISTRIBUTION INC (HDI.CA) is buy as both the short term and long term trends are positive.