H2O Innovation Inc (HEO.CA) Stock Technical Analysis
TSX:HEO - Toronto Stock Exchange - CA4433003064 - Common Stock - Currency: CAD
Overall HEO gets a technical rating of 10 out of 10. Both in the recent history as in the last year, HEO has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, HEO also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 4.26. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 4.24, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- 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.
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2.54
When analyzing the support we can see 3 important areas.
- A support zone ranging from 4.14 to 4.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.75 from a horizontal line in the daily time frame.
- Support @2.57 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 4.26 to 4.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 |
|---|---|---|---|
| 4.27 | 4.20 | 0.07 (1.64%) | 25.00% |
| An entry @4.27. This is a Buy Stop order right above the resistance zone. | An exit @4.20. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.07 points, which is 1.64%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.41%. |
- 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:HEO (12/11/2023, 7:00:00 PM)
4.25
+0.01 (+0.24%)