Alibaba Health Information Technology Stock Forecast

Alibaba Health Information Technology stock price ended at HK$2.75 on Thursday, after losing 0%.
(Updated on Apr 25, 2024)

0241.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.36%. 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 Alibaba Health Information Technology stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$3.06. On a fall, the stock will find some support from the short-term average at HK$2.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Alibaba Health Information Technology stock

Alibaba Health Information Technology finds support from accumulated volume at HK$2.65 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$0.140 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 4.10%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0241.HK) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Alibaba Health Information Technology Limited to open at HK$2.75, and during the day (based on 14 day Average True Range), to move between HK$2.61 and HK$2.89, which gives a possible trading interval of +/-HK$0.136 (+/-4.95%) up or down from last closing price. If Alibaba Health Information Technology Limited takes out the full calculated possible swing range there will be an estimated 9.90% 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$2.65 (3.64%) than the resistance at HK$3.18 (15.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alibaba Health Information Technology Limited stock A Buy?

Alibaba Health Information Technology holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.551 Sell Candidate Unchanged

Predicted Opening Price for Alibaba Health Information Technology Limited of Friday, April 26, 2024

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