Fountain Set (Holdings) Limited Stock Forecast

Fountain Set (Holdings) Limited stock upgraded to Buy Candidate.
(Updated on Jun 14, 2024)

0420.HK Signals & Forecast

The Fountain Set (Holdings) Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.699. On a fall, the stock will find some support from the long-term average at approximately HK$0.640. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -8.22%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Fountain Set (Holdings) Limited stock

Fountain Set (Holdings) Limited finds support from accumulated volume at HK$0.660 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.64%.

Our recommended stop-loss: HK$0.640 (-4.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (0420.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Fountain Set (Holdings) Limited to open at HK$0.670, and during the day (based on 14 day Average True Range), to move between HK$0.653 and HK$0.687, which gives a possible trading interval of +/-HK$0.0172 (+/-2.56%) up or down from last closing price. If Fountain Set (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 5.13% 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$0.680 (1.49%) than the support at HK$0.660 (1.49%), 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 Fountain Set (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 Fountain Set (Holdings) Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.194 Buy Candidate Upgraded

Predicted Opening Price for Fountain Set (Holdings) Limited of Monday, June 17, 2024

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