HLX stock price shows a bullish chart structure and is trading above the key moving averages, showing buyers’ dominance in the past trading sessions. Furthermore, the chart structure favors the bulls and suggests follow-on buying, which will lead toward $11 in the following sessions.
Helix share price is trading above neutrality and has shown buying momentum over the past sessions. Helix stock has shown bullish projections and persists in smashing the hurdles decisively, and is now attempting a range breakout above $11.
At press time, the Helix stock price is trading at $10.97 with an intraday gain of 2.43%, showing neutrality on the charts. Moreover, the trading volume is $1.797 Million, and the market cap is $1.654 Billion. However, analysts maintained a buy rating with a yearly target price of $17, suggesting a strong growth outlook for the following sessions.
How HLX Stock Price is Performing on the 1-D Timeframe: A Technical Analysis
Currently, HLX stock is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price momentum.
The current value of RSI is 66.48 points. The 14 SMA is above the median line at 73.45 points which indicates that the HLX stock is bullish.
The MACD line at 0.4102 and the signal line at 0.4380 are above the zero line. A bearish crossover is observed in the MACD indicator which signals mild weakness in the momentum of the Helix stock price.
What Weekly Timeframe Tells About Helix Stock?
On the weekly time frame, HLX stock price shows strong bullish momentum by making higher structures and trending above the key moving averages.
The current value of RSI is 75 points in overbought territory. The 14 SMA is above the median line at 66.99 points which indicates that the HLX stock is bullish.
The MACD line at 0.9758 and the signal line at 0.7282 are above the zero line. A bullish crossover is observed in the MACD which signals strength in the momentum of the Helix stock price.
Summary
The price action reflects a bullish outlook at the moment. However, investors and traders should wait for a proper setup for the next move and avoid FOMO. The MACD, RSI, and EMA show positive signs and suggest that the Helix stock price may continue to rise. However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Meanwhile, the HLX price is expected to rise, giving bullish views over the daily time frame chart.
Technical Levels
- Support Levels: $9.90 and $9.38.
- Resistance Levels: $11.19 and $12.48.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Source: https://www.thecoinrepublic.com/2023/09/21/hlx-stock-forecast-will-helix-stock-reach-the-target-of-15/