Emperor Entertainment Hotel Limited Stock Forecast

Emperor Entertainment Hotel Limited stock price ended at HK$0.430 on Friday, after gaining 1.18%.
(Updated on May 10, 2024)

0296.HK Signals & Forecast

The Emperor Entertainment Hotel Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.419 and HK$0.397. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 17.81%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Emperor Entertainment Hotel Limited stock

Emperor Entertainment Hotel Limited finds support from accumulated volume at HK$0.415 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0100 between high and low, or 2.33%. For the last week the stock has had daily average volatility of 2.16%.

The Emperor Entertainment Hotel Limited stock is extremely overbought on RSI14 (93). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$0.415 (-3.57%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (0296.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Emperor Entertainment Hotel Limited to open at HK$0.433, and during the day (based on 14 day Average True Range), to move between HK$0.416 and HK$0.444, which gives a possible trading interval of +/-HK$0.0137 (+/-3.19%) up or down from last closing price. If Emperor Entertainment Hotel Limited takes out the full calculated possible swing range there will be an estimated 6.39% 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$0.435 (1.16%) than the support at HK$0.415 (3.49%), 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 Emperor Entertainment Hotel Limited stock A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Current score: 3.924 Buy Candidate Unchanged

Predicted Opening Price for Emperor Entertainment Hotel Limited of Monday, May 13, 2024

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