First Pacific Company Limited Stock Forecast

Stronger technical forecast for First Pacific Company Limited stock price after Friday trading.
(Updated on Apr 26, 2024)

0142.HK Signals & Forecast

There are few to no technical positive signals at the moment. The First Pacific Company Limited 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$3.61 and HK$3.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -9.82%. 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). 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 First Pacific Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$3.30 and HK$3.19. 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, First Pacific Company Limited finds support just below today's level at HK$3.30. If this is broken, then the next support from accumulated volume will be at HK$3.19 and HK$3.02.

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$0.0600 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 2.34%.

First Pacific Company Limited is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: HK$3.39 (-5.37%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 21 which reduces the risk some. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (0142.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect First Pacific Company Limited to open at HK$3.59, and during the day (based on 14 day Average True Range), to move between HK$3.47 and HK$3.69, which gives a possible trading interval of +/-HK$0.106 (+/-2.95%) up or down from last closing price. If First Pacific Company Limited takes out the full calculated possible swing range there will be an estimated 5.91% 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$3.65 (1.96%) than the support at HK$3.30 (7.82%), 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 First Pacific Company Limited stock A Buy?

First Pacific Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.751 Hold/Accumulate Upgraded

Predicted Opening Price for First Pacific Company Limited of Monday, April 29, 2024

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