Television Broadcasts Limited Stock Forecast

Stronger technical forecast for Television Broadcasts Limited stock price after Friday trading.
(Updated on Apr 19, 2024)

0511.HK Signals & Forecast

There are mixed signals in the stock today. The Television Broadcasts 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$3.24. On a fall, the stock will find some support from the short-term average at HK$2.91. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 3.15%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Television Broadcasts Limited stock

Television Broadcasts Limited finds support from accumulated volume at HK$2.94 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$0.170 between high and low, or 5.90%. For the last week, the stock has had daily average volatility of 4.61%.

Our recommended stop-loss: HK$2.80 (-5.09%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (0511.HK) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Television Broadcasts Limited to open at HK$2.96, and during the day (based on 14 day Average True Range), to move between HK$2.82 and HK$3.08, which gives a possible trading interval of +/-HK$0.126 (+/-4.29%) up or down from last closing price. If Television Broadcasts Limited takes out the full calculated possible swing range there will be an estimated 8.57% 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$2.94 (0.34%) than the resistance at HK$3.08 (4.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Television Broadcasts Limited stock A Buy?

Television Broadcasts 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.830 Hold/Accumulate Upgraded

Predicted Opening Price for Television Broadcasts Limited of Monday, April 22, 2024

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