Art Group Holdings Limited Stock Forecast

Art Group Holdings Limited stock price up 3.13% on Wednesday
(Updated on Jun 26, 2024)

0565.HK Signals & Forecast

The Art Group 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$0.270 and HK$0.204. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 98.80%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Art Group Holdings Limited stock

Art Group Holdings Limited finds support from accumulated volume at HK$0.320 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0150 between high and low, or 4.76%. For the last week the stock has had daily average volatility of 35.54%.

The Art Group Holdings Limited stock is extremely overbought on RSI14 (83). 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$0.321 (-2.84%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (0565.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Art Group Holdings Limited to open at HK$0.325, and during the day (based on 14 day Average True Range), to move between HK$0.292 and HK$0.368, which gives a possible trading interval of +/-HK$0.0380 (+/-11.51%) up or down from last closing price. If Art Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 23.01% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.320, some HK$0.0100 (3.03%) from the current price of HK$0.330, our system finds the risk reward attractive.

Is Art Group Holdings Limited stock A Buy?

Art Group 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 Art Group Holdings Limited of Thursday, June 27, 2024

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