Hammerhead Energy Inc (HHRS.CA) Stock Technical Analysis
Canada - TSX:HHRS - CA4083021077 - Common Stock
We assign a technical rating of 6 out of 10 to HHRS. Although HHRS is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
HHRS has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 20.23, a Stop Loss order could be placed below this zone.
More info and screens
18.96
When analyzing the support we can see 2 important areas.
- A support zone ranging from 19.99 to 20.23. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 19.15 to 19.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 20.28 to 20.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 HHRS.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HHRS.CA is up. |
| ChartMill Relative Strength | 0 | NEGATIVE | HHRS.CA has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of HHRS.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HHRS.CA is above the rising SMA(50). |
| Relative Strength Index/RSI (14) | 53.35 | NEUTRAL | The RSI value for HHRS.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.07 | NEGATIVE | The MACD value suggests HHRS.CA has a negative trend. |
| Stochastics (14,3) | 74.19 | NEUTRAL | The Stochastics value for HHRS.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 0.93 | LOW VOLATILITY | The low ATR as a percentage value for HHRS.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 36.01 | POSITIVE | The high ADX value value for HHRS.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 |
|---|---|---|---|
| 20.34 | 19.98 | 0.36 (1.78%) | 25.00% |
| An entry @20.34. This is a Buy Stop order right above the 10 day moving average. | An exit @19.98. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.36 points, which is 1.78%. | For a 0.44% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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:HHRS (12/27/2023, 7:00:00 PM)
20.24
-0.23 (-1.12%)
Hammerhead Energy Inc / HHRS.CA FAQ
What is the ChartMill technical rating of Hammerhead Energy Inc (HHRS.CA) stock?
ChartMill assigns a technical rating of 6 / 10 to HHRS.CA.
What is the current trend direction of Hammerhead Energy Inc (HHRS.CA) stock?
The current trend direction for Hammerhead Energy Inc (HHRS.CA) is Bullish.
Can you provide the RSI signal for Hammerhead Energy Inc?
Hammerhead Energy Inc (HHRS.CA) has an RSI value of 53.3502. This indicates that the stock is currently neutral.
What is the short term momentum for HHRS stock?
The short term momentum for Hammerhead Energy Inc (HHRS.CA) is positive.
Can you provide the buy/sell signal for Hammerhead Energy Inc?
The buy/sell signal for Hammerhead Energy Inc (HHRS.CA) is buy as both the short term and long term trends are positive.