Yip's Chemical Holdings Limited Stock Forecast

Red day on Friday for Yip's Chemical Holdings Limited
(Updated on May 17, 2024)

0408.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.65%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Yip's Chemical Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$1.55. On a fall, the stock will find some support from the short-term average at HK$1.54. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Yip's Chemical Holdings 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 stock had a Golden Star Signal on Wednesday, March 13, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Yip's Chemical Holdings Limited stock

Yip's Chemical Holdings Limited finds support from accumulated volume at HK$1.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0200 between high and low, or 1.30%. For the last week the stock has had daily average volatility of 2.23%.

Our recommended stop-loss: HK$1.47 (-5.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (0408.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Yip's Chemical Holdings Limited to open at HK$1.55, and during the day (based on 14 day Average True Range), to move between HK$1.52 and HK$1.58, which gives a possible trading interval of +/-HK$0.0299 (+/-1.93%) up or down from last closing price. If Yip's Chemical Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.86% 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$1.56 (0.65%) than the support at HK$1.54 (0.65%), 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 Yip's Chemical Holdings Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Yip's Chemical Holdings Limited stock to perform well in the short-term.

Current score: 1.584 Buy Candidate Unchanged

Predicted Opening Price for Yip's Chemical Holdings Limited of Monday, May 20, 2024

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