Hammerhead Energy Inc (HHRS.CA) Stock Technical Analysis
Canada - TSX:HHRS - CA4083021077 - Common Stock
20.24 CAD
-0.23 (-1.12%)
We assign a technical rating of 6 out of 10 to HHRS. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, HHRS is a bad performer.
When comparing the yearly performance of all stocks, HHRS is a bad performer in the overall market: 100% of all stocks are doing better.
HHRS is one of the lesser performing stocks in the Oil, Gas & Consumable Fuels industry. 92% of 210 stocks in the same industry do better.
The long and short term trends are both positive. This is looking good!
HHRS is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
In the last month HHRS has a been trading in a tight range between 19.94 and 20.72.
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
20.81
2 important support areas can be observed.
- 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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.44%. |
- 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%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg-1.12%
1 Week-0.93%
2 Weeks0.55%
1 Month-0.59%
3 Month24.17%
6 Month110.83%
12 MonthN/A
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.2
ATR(20)%0.93%
ATR Inc58.96%
Range Today0.48
ADR(20)0.18
ADR(20)%0.87%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS0
Mansfield-30
10 Day High20.72
10 Day Low19.94
20 Day High20.72
20 Day Low19.94
52 Week HighN/A
52 Week LowN/A
CS1 End20.23
CR1 Start20.28
Volume & EV
DER(3)-3.17%
DER(5)-4.46%
Volume9.93K
Volume Incr-63.45%
Vol(5)22.25K
Vol(50)69.80K