Wharf (Holdings) Limited Stock Forecast

Wharf (Holdings) Limited stock price ended at HK$26.70 on Friday, after gaining 1.71%.
(Updated on May 17, 2024)

0004.HK Signals & Forecast

Mostly positive signals in the chart today. The Wharf (Holdings) Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$25.56 and HK$25.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.10%. 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.

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

Wharf (Holdings) Limited finds support from accumulated volume at HK$26.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.85 (3.26%) between high and low. For the last week, the stock has had daily average volatility of 2.68%.

Since the Wharf (Holdings) Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: HK$25.43 (-4.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (0004.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Wharf (Holdings) Limited to open at HK$26.58, and during the day (based on 14 day Average True Range), to move between HK$25.99 and HK$27.41, which gives a possible trading interval of +/-HK$0.707 (+/-2.65%) up or down from last closing price. If Wharf (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 5.30% 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$26.25 (1.69%) than the resistance at HK$27.20 (1.87%), 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?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Current score: 2.260 Buy Candidate Unchanged

Predicted Opening Price for Wharf (Holdings) Limited of Monday, May 20, 2024

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