Lippo China Resources Limited Stock Forecast

Lippo China Resources Limited stock upgraded to Hold/Accumulate.
(Updated on May 10, 2024)

0156.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 1.39%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lippo China Resources 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$0.766 and HK$0.88. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Lippo China Resources Limited stock

Lippo China Resources Limited finds support from accumulated volume at HK$0.720 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0200 between high and low, or 2.78%. For the last week the stock has had daily average volatility of 3.25%.

Our recommended stop-loss: HK$0.691 (-5.37%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (0156.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Lippo China Resources Limited to open at HK$0.730, and during the day (based on 14 day Average True Range), to move between HK$0.701 and HK$0.759, which gives a possible trading interval of +/-HK$0.0293 (+/-4.02%) up or down from last closing price. If Lippo China Resources Limited takes out the full calculated possible swing range there will be an estimated 8.04% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.720 (1.37%) than the resistance at HK$0.780 (6.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Lippo China Resources Limited stock A Buy?

Lippo China Resources 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: 0.000 Hold/Accumulate Upgraded

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 Lippo China Resources Limited of Monday, May 13, 2024

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