Wharf (Holdings) Limited Stock Forecast

Wharf (Holdings) Limited stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)

0004.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wharf (Holdings) Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$25.51. On a fall, the stock will find some support from the short-term average at HK$25.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Wharf (Holdings) Limited stock

Wharf (Holdings) Limited finds support from accumulated volume at HK$25.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.80 between high and low, or 3.19%. For the last week the stock has had daily average volatility of 2.58%.

Our recommended stop-loss: HK$24.34 (-4.35%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (0004.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Wharf (Holdings) Limited to open at HK$25.45, and during the day (based on 14 day Average True Range), to move between HK$24.73 and HK$26.17, which gives a possible trading interval of +/-HK$0.716 (+/-2.81%) up or down from last closing price. If Wharf (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 5.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$25.30 (0.59%) than the resistance at HK$27.20 (6.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Wharf (Holdings) Limited stock A Buy?

Wharf (Holdings) Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.740 Hold/Accumulate Upgraded

Predicted Opening Price for Wharf (Holdings) Limited of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.