Stelux Holdings International Limited Stock Forecast

Stelux Holdings International Limited stock price ended at HK$0.106 on Monday, after gaining 2.91%.
(Updated on May 20, 2024)

0084.HK Signals & Forecast

The Stelux Holdings International 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$0.101 and HK$0.0863. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Stelux Holdings International 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. The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, May 16, 2024, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Stelux Holdings International Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0930 and HK$0.0900. 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, Stelux Holdings International Limited finds support just below today's level at HK$0.0930. If this is broken, then the next support from accumulated volume will be at HK$0.0900 and HK$0.0830.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0080 between high and low, or 8.00%. For the last week, the stock has had daily average volatility of 10.89%.

The Stelux Holdings International Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$0.102 (-3.50%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (0084.HK) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Stelux Holdings International Limited to open at HK$0.105, and during the day (based on 14 day Average True Range), to move between HK$0.0996 and HK$0.112, which gives a possible trading interval of +/-HK$0.0064 (+/-6.05%) up or down from last closing price. If Stelux Holdings International Limited takes out the full calculated possible swing range there will be an estimated 12.10% 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$0.107 (0.94%) than the support at HK$0.0930 (12.26%), 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 Stelux Holdings International Limited 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 Stelux Holdings International Limited stock to perform well in the short-term.

Current score: 2.829 Buy Candidate Unchanged

Predicted Opening Price for Stelux Holdings International Limited of Tuesday, May 21, 2024

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