Chinasoft International Limited Stock Forecast

A very strong day for Chinasoft International Limited stock price on Wednesday
(Updated on Apr 24, 2024)

0354.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 8.86%. 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 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. The Chinasoft 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$4.89. On a fall, the stock will find some support from the short-term average at HK$4.50. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 38.74% to HK$6.65 within 50 trading days since signal was issued (Thursday, April 25, 2024).

Support, Risk & Stop-loss for Chinasoft International Limited stock

Chinasoft International Limited finds support from accumulated volume at HK$4.77 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.370 between high and low, or 8.26%. For the last week, the stock has had daily average volatility of 3.61%.

Our recommended stop-loss: HK$4.61 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (0354.HK) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Chinasoft International Limited to open at HK$4.71, and during the day (based on 14 day Average True Range), to move between HK$4.58 and HK$5.00, which gives a possible trading interval of +/-HK$0.215 (+/-4.49%) up or down from last closing price. If Chinasoft International Limited takes out the full calculated possible swing range there will be an estimated 8.97% 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$4.81 (0.42%) than the support at HK$4.77 (0.42%), 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 Chinasoft International Limited stock A Buy?

Chinasoft 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.258 Hold/Accumulate Upgraded

Predicted Opening Price for Chinasoft International Limited of Thursday, April 25, 2024

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