Using the Moving Average to Buy a Stock, such as Hexo..LEt's look at the price range for HExo on the 52 weeks.
High---$14.00
LOw--$1.58
Today's range $1.87 to $2.00
HExo is trading near the 52 week low....
No reason to indicate that Hexo could not continue to decline....But this could change...
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Let's consider the moving average..for various time frames..
Most traders will not buy a stock unless the share price is at least above the 20 Day MA, 50 Day MA.
What is the Moving Average for HExo for various time frames:
The stock is trading right around the 5 to 20 day moving average..
Smart money would wait..until the share price moves above the 50 day moving average and the fundamentals are better----revenue and cashflow..
But, if you "BELIEVE" HEXO is a Good "BET" long-term---once your have conducted your own stock analysis:
1.Reading the Chart---buying in an uptrend on the weekly chart...
2. Understanding important fundamentals
3. Understanding the MA for various time frames.
4. Being aware of what several reputable analysts are saying about HeXO
5. Being aware everyday about the News regarding HEXO, which alters investor sentiment.
Example: HeXO closes 3 pot producing plants... Not much of a reaction by investors, as indicated by the share price today....
Thinking into the future... These closings will reduce the companies costs, which brings HEXo closer to reducing losses...
So, do you buy today???? Flip a coin... Perhaps it's better to scale in.
| 5-Day | 1.87 | +0.20 | +11.43% | 3,584,403 |
| 20-Day | 1.99 | -0.23 | -10.55% | 3,805,173 |
| 50-Day | 2.32 | -1.12 | -36.48% | 3,108,801 |
| 100-Day | 3.84 | -5.22 | -72.80% | 2,417,042 |
| 200-Day | 6.14 | -5.85 | -75.00% | 2,173,191 |
| Year-to-Date | 6.24 |