Softpower International Limited Stock Forecast

Strong day for Softpower International Limited stock price on Thursday rising 6.93% to HK$0.108
(Updated on Jun 20, 2024)

0380.HK Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -11.48%. 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 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The Softpower International 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$0.105 and HK$0.103. A breakdown below any of these levels will issue sell signals.

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

Softpower International Limited finds support from accumulated volume at HK$0.107 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$0.0080 between high and low, or 8.00%. For the last week the stock has had daily average volatility of 2.39%.

Our recommended stop-loss: HK$0.104 (-3.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (0380.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Softpower International Limited to open at HK$0.105, and during the day (based on 14 day Average True Range), to move between HK$0.101 and HK$0.115, which gives a possible trading interval of +/-HK$0.0065 (+/-6.03%) up or down from last closing price. If Softpower International Limited takes out the full calculated possible swing range there will be an estimated 12.07% 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$0.107 (0.93%) than the resistance at HK$0.110 (1.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Softpower International Limited stock A Buy?

Softpower International Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.

Current score: 5.299 Strong Buy Candidate Upgraded

Predicted Opening Price for Softpower International Limited of Friday, June 21, 2024

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