Houston American Energy (NYSE:HUSA): Don’t Let the Headlines Distract You

Houston American Energy Corp. (NYSE:HUSA) fell by -5.88% in the last day from $0.68 to $0.64 and has now fallen 3 consecutive sessions. The price has fallen in 7 of the last 10 days and is down by -14.67% over the same course of time. Volume has increased in the last day by 0.50 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.25 M shares exchanged hands for about $802 182.

Inside HUSA’s Recent Trend

Short-term traders are predicted to see a rally of 86.15% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.19 and $1.92 in this timeframe.

Houston American Energy Corp. Technical Signals

HUSA has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $0.69 and $0.66. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Friday July 14, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Houston American Energy Corp gained volume on the last day, but on a weak note. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical sell-off’s.

Houston American Energy Corp. (NYSE:HUSA) Support And Resistance Levels

Houston American Energy Corp. (HUSA) recorded volume accumulation so there will probably be a surplus of buyers at $0.63, $0.61, and $0.57. In case of gains, the next resistance from accumulated volume will be at $0.75, $0.76 and $0.72.

Houston American Energy Corp. (HUSA) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.05 between high and low, or 7.81%. The average volatility for the past week stood at 9.00%.


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