PYI Corporation Limited Stock Forecast

High volatility in PYI Corporation Limited stock price on Friday which ended trading at HK$0.160
(Updated on May 17, 2024)

0498.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 5.96%. 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). PYI Corporation 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PYI Corporation 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$0.188. On a fall, the stock will find some support from the short-term average at HK$0.156. 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.

Support, Risk & Stop-loss for PYI Corporation Limited stock

PYI Corporation Limited finds support from accumulated volume at HK$0.159 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$0.0640 between high and low, or 42.67%. For the last week, the stock has had daily average volatility of 8.53%.

Our recommended stop-loss: HK$0.152 (-5.05%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (0498.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect PYI Corporation Limited to open at HK$0.175, and during the day (based on 14 day Average True Range), to move between HK$0.152 and HK$0.168, which gives a possible trading interval of +/-HK$0.0085 (+/-5.29%) up or down from last closing price. If PYI Corporation Limited takes out the full calculated possible swing range there will be an estimated 10.57% 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$0.159 (0.63%) than the resistance at HK$0.171 (6.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PYI Corporation Limited stock A Buy?

PYI Corporation 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 PYI Corporation Limited of Monday, May 20, 2024

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