Kong Sun Holdings Limited Stock Forecast

Kong Sun Holdings Limited stock upgraded to Buy Candidate.
(Updated on Jun 26, 2024)

0295.HK Signals & Forecast

The Kong Sun Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.0206 and HK$0.0215. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 15.79%. Further rise is indicated until a new top pivot has been found. Kong Sun Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Kong Sun Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0200 and HK$0.0190. 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, Kong Sun Holdings Limited finds support just below today's level at HK$0.0200. If this is broken, then the next support from accumulated volume will be at HK$0.0190 and HK$0.0180.

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$0.0010 between high and low, or 4.76%. For the last week, the stock has had daily average volatility of 1.90%.

Our recommended stop-loss: HK$0.0209 (-5.15%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (0295.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Kong Sun Holdings Limited to open at HK$0.0217, and during the day (based on 14 day Average True Range), to move between HK$0.0210 and HK$0.0230, which gives a possible trading interval of +/-HK$0.0010 (+/-4.71%) up or down from last closing price. If Kong Sun Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.41% 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$0.0230 (4.55%) than the support at HK$0.0200 (9.09%), 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 Kong Sun Holdings 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 Kong Sun Holdings Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.139 Buy Candidate Upgraded

Predicted Opening Price for Kong Sun Holdings Limited of Thursday, June 27, 2024

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