Tomson Group Limited Stock Forecast

Tomson Group Limited stock price ended at HK$1.90 on Tuesday, after losing 2.06%.
(Updated on Jul 02, 2024)

0258.HK Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -3.55%. 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). Tomson Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. The Tomson Group 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$1.92. On a fall, the stock will find some support from the long-term average at approximately HK$1.81. 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.

Support, Risk & Stop-loss for Tomson Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.68 and HK$1.63. 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, Tomson Group Limited finds support just below today's level at HK$1.68. If this is broken, then the next support from accumulated volume will be at HK$1.63 and HK$1.61.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0400 (2.11%) between high and low. For the last week, the stock has had daily average volatility of 2.76%.

Our recommended stop-loss: HK$1.81 (-4.77%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 43 days ago.)

Trading Expectations (0258.HK) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Tomson Group Limited to open at HK$1.91, and during the day (based on 14 day Average True Range), to move between HK$1.84 and HK$1.96, which gives a possible trading interval of +/-HK$0.0584 (+/-3.07%) up or down from last closing price. If Tomson Group Limited takes out the full calculated possible swing range there will be an estimated 6.15% 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$1.95 (2.63%) than the support at HK$1.68 (11.58%), 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 Tomson Group Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.131 Buy Candidate Unchanged

Predicted Opening Price for Tomson Group Limited of Wednesday, July 3, 2024

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