Cosmopolitan International Holdings Ltd Stock Forecast

Red day on Wednesday for Cosmopolitan International Holdings Ltd
(Updated on Jun 19, 2024)

0120.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cosmopolitan International Holdings Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.567 and HK$0.717. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Cosmopolitan International Holdings Ltd stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0300 between high and low, or 6.12%. For the last week, the stock has had daily average volatility of 8.86%.

Cosmopolitan International Holdings Ltd is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0120.HK) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Cosmopolitan International Holdings Limited to open at HK$0.503, and during the day (based on 14 day Average True Range), to move between HK$0.430 and HK$0.570, which gives a possible trading interval of +/-HK$0.0697 (+/-13.93%) up or down from last closing price. If Cosmopolitan International Holdings Limited takes out the full calculated possible swing range there will be an estimated 27.87% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.600, some HK$0.1000 (20.00%) from the current price of HK$0.500, our system finds the risk reward not very attractive.

Is Cosmopolitan International Holdings Limited stock A Buy?

Cosmopolitan International Holdings Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -5.939 Strong Sell Candidate Unchanged

Predicted Opening Price for Cosmopolitan International Holdings Limited of Thursday, June 20, 2024

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