Asiasec Properties Limited Stock Forecast

Asiasec Properties Limited stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 24, 2024)

0271.HK Signals & Forecast

The Asiasec Properties 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$0.197. On a fall, the stock will find some support from the long-term average at approximately HK$0.191. 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. 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 Thursday, May 02, 2024, and so far it has fallen -7.14%. 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). Asiasec Properties 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". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, March 08, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Asiasec Properties Limited stock

Asiasec Properties Limited finds support from accumulated volume at HK$0.194 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 and with good trading volume, the risk is considered to be medium. 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 1.34%.

Our recommended stop-loss: HK$0.189 (-3.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (0271.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Asiasec Properties Limited to open at HK$0.195, and during the day (based on 14 day Average True Range), to move between HK$0.189 and HK$0.201, which gives a possible trading interval of +/-HK$0.0056 (+/-2.87%) up or down from last closing price. If Asiasec Properties Limited takes out the full calculated possible swing range there will be an estimated 5.74% 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$0.194 (0.51%) than the resistance at HK$0.200 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Asiasec Properties Limited stock A Buy?

Asiasec Properties 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Asiasec Properties Limited of Monday, May 27, 2024

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