Fairwood Holdings Limited Stock Forecast

Red day on Friday for Fairwood Holdings Limited
(Updated on May 10, 2024)

0052.HK Signals & Forecast

The Fairwood Holdings Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$8.38. On a fall, the stock will find some support from the long-term average at approximately HK$8.13. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -2.34%. Further fall is indicated until a new bottom pivot has been found. Fairwood Holdings Limited gained volume on the last day, but on falling prices. 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-offs".

Support, Risk & Stop-loss for Fairwood Holdings Limited stock

Fairwood Holdings Limited finds support from accumulated volume at HK$8.14 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$0.0400 (0.481%) between high and low. For the last week, the stock has had daily average volatility of 0.98%.

Our recommended stop-loss: HK$8.06 (-3.38%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (0052.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Fairwood Holdings Limited to open at HK$8.33, and during the day (based on 14 day Average True Range), to move between HK$8.22 and HK$8.46, which gives a possible trading interval of +/-HK$0.116 (+/-1.39%) up or down from last closing price. If Fairwood Holdings Limited takes out the full calculated possible swing range there will be an estimated 2.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$8.40 (0.72%) than the support at HK$8.14 (2.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Fairwood Holdings Limited stock A Buy?

Fairwood 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.

Current score: -0.624 Hold/Accumulate Unchanged

Predicted Opening Price for Fairwood Holdings Limited of Monday, May 13, 2024

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