China Tontine Wines Group Limited Stock Forecast

China Tontine Wines Group Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

0389.HK Signals & Forecast

There are few to no technical positive signals at the moment. The China Tontine Wines Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.546 and HK$0.616. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -33.75%. 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). China Tontine Wines Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Tontine Wines Group Limited stock

China Tontine Wines Group Limited finds support from accumulated volume at HK$0.520 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$0.0100 between high and low, or 1.89%. For the last week, the stock has had daily average volatility of 3.70%.

Our recommended stop-loss: HK$0.501 (-5.40%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 33 days ago.)

Trading Expectations (0389.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect China Tontine Wines Group Limited to open at HK$0.533, and during the day (based on 14 day Average True Range), to move between HK$0.485 and HK$0.575, which gives a possible trading interval of +/-HK$0.0446 (+/-8.42%) up or down from last closing price. If China Tontine Wines Group Limited takes out the full calculated possible swing range there will be an estimated 16.84% 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$0.520 (1.89%) than the resistance at HK$0.590 (11.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Tontine Wines Group Limited stock A Buy?

China Tontine Wines Group Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for China Tontine Wines Group Limited of Tuesday, July 2, 2024

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