Orient Overseas (International) Limited Stock Forecast

Orient Overseas (International) Limited stock price ended at HK$105.70 on Thursday, after gaining 0.763%.
(Updated on Apr 25, 2024)

0316.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 13.05%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Orient Overseas (International) Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$107.57. On a fall, the stock will find some support from the short-term average at HK$101.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Orient Overseas (International) Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$99.70 and HK$96.15. 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, Orient Overseas (International) Limited finds support just below today's level at HK$99.70. If this is broken, then the next support from accumulated volume will be at HK$96.15 and HK$93.90.

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$2.00 between high and low, or 1.91%. For the last week, the stock has had daily average volatility of 4.11%.

Our recommended stop-loss: HK$101.05 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (0316.HK) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Orient Overseas (International) Limited to open at HK$105.83, and during the day (based on 14 day Average True Range), to move between HK$101.52 and HK$109.88, which gives a possible trading interval of +/-HK$4.18 (+/-3.95%) up or down from last closing price. If Orient Overseas (International) Limited takes out the full calculated possible swing range there will be an estimated 7.91% 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$99.70 (5.68%) than the resistance at HK$115.40 (9.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Orient Overseas (International) Limited stock A Buy?

Orient Overseas (International) Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.789 Hold/Accumulate Unchanged

Predicted Opening Price for Orient Overseas (International) Limited of Friday, April 26, 2024

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