PAX Global Technology Limited Stock Forecast
PAX Global Technology Limited stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The PAX Global Technology Limited stock price fell by -2.00% on the last day (Friday, 17th May 2024) from HK$6.49 to HK$6.36. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.17% from a day low at HK$6.31 to a day high of HK$6.51. The price has fallen in 6 of the last 10 days and is down by -2.75% for this period. Volume has increased on the last day by 759 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately HK$10.02 million.
Given the current short-term trend, the stock is expected to rise 13.59% during the next 3 months and, with a 90% probability hold a price between HK$7.22 and HK$7.66 at the end of this 3-month period.
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0327.HK Signals & Forecast
There are few to no technical positive signals at the moment. The PAX Global Technology Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$6.55 and HK$6.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -4.36%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for PAX Global Technology Limited stock
PAX Global Technology Limited finds support from accumulated volume at HK$6.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.200 between high and low, or 3.17%. For the last week the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0327.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect PAX Global Technology Limited to open at HK$6.39, and during the day (based on 14 day Average True Range), to move between HK$6.22 and HK$6.50, which gives a possible trading interval of +/-HK$0.136 (+/-2.13%) up or down from last closing price. If PAX Global Technology Limited takes out the full calculated possible swing range there will be an estimated 4.27% 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$6.37 (0.16%) than the support at HK$6.05 (4.87%), 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.
Earnings coming up
PAX Global Technology Limited will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for PAX Global Technology Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.69% in the first trading day after earnings release.
Is PAX Global Technology Limited stock A Buy?
The PAX Global Technology Limited stock holds several negative signals and despite the positive trend, we believe PAX Global Technology Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.382 Sell Candidate Downgraded
Predicted Opening Price for PAX Global Technology Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$6.39 ( 0.524%) | HK$6.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0327.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.59 | 3.67 % | |
| R2 | 6.52 | 2.47 % | ||
| R1 | 6.47 | 1.73 % | ||
| Current price: | 6.36 | |||
| Support | S1 | 6.32 | -0.677 % | |
| S2 | 6.27 | -1.42 % | ||
| S3 | 6.19 | -2.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.64 | 4.40 % | |
| R2 | 6.40 | 0.629 % | ||
| R1 | 6.37 | 0.157 % | ||
| Current price | 6.36 | |||
| Support | S1 | 6.05 | -4.87% | |
| S2 | 5.92 | -6.92% | ||
| S3 | 5.80 | -8.81% |
0327 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 27, 2024 | HK$0.230 | 3.63% |
| 2 | Sep 04, 2023 | Sep 04, 2023 | Sep 04, 2023 | HK$0.210 | 3.58% |
| 3 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.190 | 3.19% |
| 4 | Aug 26, 2022 | Aug 26, 2022 | Aug 26, 2022 | HK$0.170 | 2.23% |
| 5 | May 27, 2022 | May 27, 2022 | May 27, 2022 | HK$0.150 | 2.45% |
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