Kingdom Holdings Limited Stock Forecast

Volatile ride for Kingdom Holdings Limited stock price on Monday moving between HK$1.16 and HK$1.30
(Updated on Jun 17, 2024)

0528.HK Signals & Forecast

The Kingdom 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$1.20 and HK$1.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 14.04%. 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). Kingdom 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. Higher liquidity also reduces the general risk.

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

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.20 and HK$1.19. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kingdom Holdings Limited finds support just below today's level at HK$1.20. If this is broken, then the next support from accumulated volume will be at HK$1.19 and HK$1.15.

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$0.140 between high and low, or 12.07%. For the last week the stock has had daily average volatility of 3.12%.

The Kingdom Holdings Limited stock is extremely overbought on RSI14 (89). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$1.24 (-4.38%) (This stock has low daily movements and this gives low risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (0528.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Kingdom Holdings Limited to open at HK$1.25, and during the day (based on 14 day Average True Range), to move between HK$1.27 and HK$1.33, which gives a possible trading interval of +/-HK$0.0256 (+/-1.97%) up or down from last closing price. If Kingdom Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$1.20, some HK$0.100 (7.69%) from the current price of HK$1.30, our system finds the risk reward attractive.

Is Kingdom Holdings Limited stock A Buy?

Kingdom 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 Kingdom Holdings Limited of Tuesday, June 18, 2024

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