Starlite Holdings Limited Stock Forecast

Starlite Holdings Limited stock price ended at HK$0.205 on Friday, after gaining 0.99%.
(Updated on May 03, 2024)

0403.HK Signals & Forecast

The Starlite Holdings 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$0.203 and HK$0.196. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 12.64%. 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). Starlite Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Starlite Holdings Limited stock

Starlite Holdings Limited finds support from accumulated volume at HK$0.200 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$0.0010 between high and low, or 0.488%. For the last week, the stock has had daily average volatility of 0.0976%.

Our recommended stop-loss: HK$0.197 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (0403.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Starlite Holdings Limited to open at HK$0.205, and during the day (based on 14 day Average True Range), to move between HK$0.198 and HK$0.212, which gives a possible trading interval of +/-HK$0.0065 (+/-3.19%) up or down from last closing price. If Starlite Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.38% 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$0.206 (0.49%) than the support at HK$0.200 (2.44%), 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 Starlite Holdings Limited stock A Buy?

Starlite Holdings 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Starlite Holdings Limited of Monday, May 6, 2024

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