Elate Holdings Limited Stock Forecast

Strong day for Elate Holdings Limited stock price on Wednesday rising 7.53% to HK$0.500
(Updated on Jun 26, 2024)

0076.HK Signals & Forecast

The Elate 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$0.445 and HK$0.399. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 28.21%. Further rise is indicated until a new top pivot has been found. Elate Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.460 and HK$0.445. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Elate Holdings Limited finds support just below today's level at HK$0.460. If this is broken, then the next support from accumulated volume will be at HK$0.445 and HK$0.390.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0350 between high and low, or 7.53%. For the last week, the stock has had daily average volatility of 7.53%.

Our recommended stop-loss: HK$0.474 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (0076.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Elate Holdings Limited to open at HK$0.488, and during the day (based on 14 day Average True Range), to move between HK$0.468 and HK$0.532, which gives a possible trading interval of +/-HK$0.0325 (+/-6.50%) up or down from last closing price. If Elate Holdings Limited takes out the full calculated possible swing range there will be an estimated 13.00% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.460, some HK$0.0400 (8.00%) from the current price of HK$0.500, our system finds the risk reward attractive.

Is Elate Holdings Limited stock A Buy?

Elate Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.174 Strong Buy Candidate Unchanged

Predicted Opening Price for Elate Holdings Limited of Thursday, June 27, 2024

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