Esprit Holdings Limited Stock Forecast

Volatile ride for Esprit Holdings Limited stock price on Tuesday moving between HK$0.196 and HK$0.242
(Updated on Apr 30, 2024)

0330.HK Signals & Forecast

The Esprit Holdings 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$0.203 and HK$0.201. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -21.03%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Esprit Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.212 and HK$0.205. 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, Esprit Holdings Limited finds support just below today's level at HK$0.212. If this is broken, then the next support from accumulated volume will be at HK$0.205 and HK$0.175.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0460 between high and low, or 23.47%. For the last week, the stock has had daily average volatility of 10.30%.

Our recommended stop-loss: HK$0.215 (-6.28%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (0330.HK) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Esprit Holdings Limited to open at HK$0.222, and during the day (based on 14 day Average True Range), to move between HK$0.199 and HK$0.259, which gives a possible trading interval of +/-HK$0.0304 (+/-13.28%) up or down from last closing price. If Esprit Holdings Limited takes out the full calculated possible swing range there will be an estimated 26.56% 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$0.233 (1.75%) than the support at HK$0.212 (7.42%), 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 Esprit Holdings Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.089 Buy Candidate Upgraded

Predicted Opening Price for Esprit Holdings Limited of Thursday, May 2, 2024

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