New Century Group Hong Kong Limited Stock Forecast

Red day on Friday for New Century Group Hong Kong Limited
(Updated on May 24, 2024)

0234.HK Signals & Forecast

The New Century Group Hong Kong 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$0.0453 and HK$0.0399. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -4.08%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for New Century Group Hong Kong Limited stock

New Century Group Hong Kong Limited finds support from accumulated volume at HK$0.0450 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0020 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 10.03%.

Our recommended stop-loss: HK$0.0452 (-3.86%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (0234.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect New Century Group Hong Kong Limited to open at HK$0.0463, and during the day (based on 14 day Average True Range), to move between HK$0.0433 and HK$0.0507, which gives a possible trading interval of +/-HK$0.0037 (+/-7.89%) up or down from last closing price. If New Century Group Hong Kong Limited takes out the full calculated possible swing range there will be an estimated 15.78% 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$0.0490 (4.26%) than the support at HK$0.0450 (4.26%), 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 New Century Group Hong Kong 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 New Century Group Hong Kong Limited stock to perform well in the short-term.

Current score: 2.695 Buy Candidate Unchanged

Predicted Opening Price for New Century Group Hong Kong Limited of Monday, May 27, 2024

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