Central Wealth Group Holdings Limited Stock Forecast
Big movements in Central Wealth Group Holdings Limited stock price on Thursday moving 13.04% between high and low
(Updated on Mar 28, 2024)
The Central Wealth Group Holdings Limited stock price fell by -8.00% on the last day (Thursday, 28th Mar 2024) from HK$0.0250 to HK$0.0230. During the last trading day the stock fluctuated 13.04% from a day low at HK$0.0230 to a day high of HK$0.0260. The price has fallen in 6 of the last 10 days and is down by -11.54% for this period. Volume has increased on the last day by 12 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 42 million shares were bought and sold for approximately HK$970.84 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 54.63% during the next 3 months and, with a 90% probability hold a price between HK$0.0279 and HK$0.0522 at the end of this 3-month period.
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0139.HK Signals & Forecast
A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -25.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Central Wealth Group Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. The Central Wealth Group Holdings Limited 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$0.0239. On a fall, the stock will find some support from the long-term average at approximately HK$0.0199. 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.
Support, Risk & Stop-loss for Central Wealth Group Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0210 and HK$0.0190. 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, Central Wealth Group Holdings Limited finds support just below today's level at HK$0.0210. If this is broken, then the next support from accumulated volume will be at HK$0.0190 and HK$0.0180.
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$0.0030 between high and low, or 13.04%. For the last week, the stock has had daily average volatility of 12.61%.
Our recommended stop-loss: HK$0.0218 (-5.30%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (0139.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Central Wealth Group Holdings Limited to open at HK$0.0240, and during the day (based on 14 day Average True Range), to move between HK$0.0200 and HK$0.0260, which gives a possible trading interval of +/-HK$0.0030 (+/-13.12%) up or down from last closing price. If Central Wealth Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 26.25% 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$0.0240 (4.35%) than the support at HK$0.0210 (8.70%), 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 Central Wealth Group Holdings Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.792 Buy Candidate Unchanged
Predicted Opening Price for Central Wealth Group Holdings Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$0.0240 ( 4.35%) | HK$0.0230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0139.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0270 | 17.39 % | |
R2 | 0.0259 | 12.41 % | ||
R1 | 0.0251 | 9.33 % | ||
Current price: | 0.0230 | |||
Support | S1 | 0.0229 | -0.635 % | |
S2 | 0.0221 | -3.71 % | ||
S3 | 0.0210 | -8.70 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0280 | 21.74 % | |
R2 | 0.0250 | 8.70 % | ||
R1 | 0.0240 | 4.35 % | ||
Current price | 0.0230 | |||
Support | S1 | 0.0210 | -8.70% | |
S2 | 0.0190 | -17.39% | ||
S3 | 0.0180 | -21.74% |
FAQ
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