Digital Domain Holdings Limited Stock Forecast

Big movements in Digital Domain Holdings Limited stock price on Thursday moving 13.45% between high and low
(Updated on Jun 20, 2024)

0547.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 10.36%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Digital Domain Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.248 and HK$0.373. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Digital Domain Holdings Limited stock

Digital Domain Holdings Limited finds support from accumulated volume at HK$0.241 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0320 between high and low, or 13.45%. For the last week, the stock has had daily average volatility of 11.69%.

Digital Domain Holdings Limited is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0547.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Digital Domain Holdings Limited to open at HK$0.251, and during the day (based on 14 day Average True Range), to move between HK$0.207 and HK$0.283, which gives a possible trading interval of +/-HK$0.0382 (+/-15.61%) up or down from last closing price. If Digital Domain Holdings Limited takes out the full calculated possible swing range there will be an estimated 31.22% 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$0.248 (1.22%) than the support at HK$0.241 (1.63%), 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 Digital Domain Holdings Limited stock A Buy?

Digital Domain Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.390 Sell Candidate Unchanged

Predicted Opening Price for Digital Domain Holdings Limited of Friday, June 21, 2024

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