Beijing Enterprises Holdings Limited Stock Forecast

Beijing Enterprises Holdings Limited stock price down 0.383% on Thursday
(Updated on Jun 20, 2024)

0392.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Beijing Enterprises Holdings 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$26.28 and HK$27.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -10.81%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Beijing Enterprises Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$24.10 and HK$23.15. 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, Beijing Enterprises Holdings Limited finds support just below today's level at HK$24.10. If this is broken, then the next support from accumulated volume will be at HK$23.15 and HK$22.70.

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$0.550 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 3.19%.

Our recommended stop-loss: HK$24.39 (-6.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 54 days ago.)

Trading Expectations (0392.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Beijing Enterprises Holdings Limited to open at HK$25.98, and during the day (based on 14 day Average True Range), to move between HK$25.18 and HK$26.82, which gives a possible trading interval of +/-HK$0.82 (+/-3.14%) up or down from last closing price. If Beijing Enterprises Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.28% 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$26.10 (0.38%) than the support at HK$24.10 (7.31%), 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 Beijing Enterprises Holdings Limited stock A Buy?

Beijing Enterprises Holdings 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.

Current score: -0.954 Hold/Accumulate Unchanged

Predicted Opening Price for Beijing Enterprises Holdings Limited of Friday, June 21, 2024

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