Freeman FinTech Corporation Limited Stock Forecast

Red day on Wednesday for Freeman FinTech Corporation Limited
(Updated on Jun 26, 2024)

0279.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 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. The Freeman FinTech Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0263 and HK$0.0287. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Freeman FinTech Corporation Limited stock

Freeman FinTech Corporation Limited finds support from accumulated volume at HK$0.0240 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0020 between high and low, or 8.33%. For the last week the stock has had daily average volatility of 8.97%.

Our recommended stop-loss: HK$0.0234 (-6.38%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 47 days ago.)

Trading Expectations (0279.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Freeman FinTech Corporation Limited to open at HK$0.0250, and during the day (based on 14 day Average True Range), to move between HK$0.0225 and HK$0.0275, which gives a possible trading interval of +/-HK$0.0025 (+/-9.95%) up or down from last closing price. If Freeman FinTech Corporation Limited takes out the full calculated possible swing range there will be an estimated 19.90% 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$0.0240 (4.00%) than the resistance at HK$0.0290 (16.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Freeman FinTech Corporation Limited stock A Buy?

Freeman FinTech Corporation 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.

Current score: -0.594 Hold/Accumulate Unchanged

Predicted Opening Price for Freeman FinTech Corporation Limited of Thursday, June 27, 2024

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