ENM Holdings Limited Stock Forecast

Green day on Monday for ENM Holdings Limited stock after gaining 1.45%
(Updated on May 06, 2024)

0128.HK Signals & Forecast

The ENM 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$0.331 and HK$0.296. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 32.08%. 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). ENM 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.

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

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.305 and HK$0.295. 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, ENM Holdings Limited finds support just below today's level at HK$0.305. If this is broken, then the next support from accumulated volume will be at HK$0.295 and HK$0.270.

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$0.0050 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 3.49%.

The ENM Holdings Limited stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$0.338 (-3.38%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (0128.HK) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect ENM Holdings Limited to open at HK$0.348, and during the day (based on 14 day Average True Range), to move between HK$0.339 and HK$0.361, which gives a possible trading interval of +/-HK$0.0109 (+/-3.12%) up or down from last closing price. If ENM Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.24% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.305, some HK$0.0450 (12.86%) from the current price of HK$0.350, our system finds the risk reward attractive.

Is ENM Holdings Limited stock A Buy?

ENM 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for ENM Holdings Limited of Tuesday, May 7, 2024

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