Minmetals Land Limited Stock Forecast

Minmetals Land Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 31, 2024)

0230.HK Signals & Forecast

The Minmetals Land 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$0.483. On a fall, the stock will find some support from the long-term average at approximately HK$0.430. 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. A buy signal was issued from a pivot bottom point on Thursday, May 30, 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Minmetals Land Limited stock

Minmetals Land Limited finds support from accumulated volume at HK$0.450 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 10.69%

Our recommended stop-loss: HK$0.432 (-6.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (0230.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Minmetals Land Limited to open at HK$0.460, and during the day (based on 14 day Average True Range), to move between HK$0.418 and HK$0.502, which gives a possible trading interval of +/-HK$0.0416 (+/-9.04%) up or down from last closing price. If Minmetals Land Limited takes out the full calculated possible swing range there will be an estimated 18.07% 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$0.450 (2.17%) than the resistance at HK$0.475 (3.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Minmetals Land Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Minmetals Land Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.419 Buy Candidate Upgraded

Predicted Opening Price for Minmetals Land Limited of Monday, June 3, 2024

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