Hong Kong Exchanges and Clearing Limited Stock Forecast

Hong Kong Exchanges and Clearing Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)

0388.HK Signals & Forecast

Mostly positive signals in the chart today. The Hong Kong Exchanges and Clearing 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$280.57 and HK$245.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 37.47%. 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.

Support, Risk & Stop-loss for Hong Kong Exchanges and Clearing Limited stock

Hong Kong Exchanges and Clearing Limited finds support from accumulated volume at HK$285.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$8.80 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 3.27%.

The Hong Kong Exchanges and Clearing Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$283.43 (-3.92%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (0388.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Hong Kong Exchanges and Clearing Limited to open at HK$294.60, and during the day (based on 14 day Average True Range), to move between HK$286.13 and HK$303.87, which gives a possible trading interval of +/-HK$8.87 (+/-3.01%) up or down from last closing price. If Hong Kong Exchanges and Clearing Limited takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$285.80, some HK$9.20 (3.12%) from the current price of HK$295.00, our system finds the risk reward attractive.

Is Hong Kong Exchanges and Clearing Limited stock A Buy?

Hong Kong Exchanges and Clearing Limited holds several positive signals and is within a weak 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 Buy to a Strong Buy candidate.

Current score: 5.874 Strong Buy Candidate Upgraded

Predicted Opening Price for Hong Kong Exchanges and Clearing Limited of Monday, May 20, 2024

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