Century Legend Stock Forecast

Stronger technical forecast for Century Legend stock price after Friday trading.
(Updated on Jun 28, 2024)

0079.HK Signals & Forecast

The Century Legend 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$0.139. On a fall, the stock will find some support from the long-term average at approximately HK$0.0921. 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. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Century Legend stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.120 and HK$0.107. 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, Century Legend finds support just below today's level at HK$0.120. If this is broken, then the next support from accumulated volume will be at HK$0.107 and HK$0.0980.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.97%

Our recommended stop-loss: HK$0.123 (-5.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (0079.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Century Legend to open at HK$0.130, and during the day (based on 14 day Average True Range), to move between HK$0.118 and HK$0.142, which gives a possible trading interval of +/-HK$0.0119 (+/-9.15%) up or down from last closing price. If Century Legend takes out the full calculated possible swing range there will be an estimated 18.29% 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$0.132 (1.54%) than the support at HK$0.120 (7.69%), 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 Century Legend stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Century Legend stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.874 Buy Candidate Upgraded

Predicted Opening Price for Century Legend of Tuesday, July 2, 2024

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