Daisho Microline Holdings Limited Stock Forecast

Big movements in Daisho Microline Holdings Limited stock price on Friday moving 15.38% between high and low
(Updated on Jun 28, 2024)

0567.HK Signals & Forecast

The Daisho Microline 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$0.0809 and HK$0.0721. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 25.00%. Further rise is indicated until a new top pivot has been found. Daisho Microline 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. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Daisho Microline Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0850 and HK$0.0840. 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, Daisho Microline Holdings Limited finds support just below today's level at HK$0.0850. If this is broken, then the next support from accumulated volume will be at HK$0.0840 and HK$0.0780.

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$0.0120 between high and low, or 15.38%. For the last week, the stock has had daily average volatility of 6.57%.

Our recommended stop-loss: HK$0.0864 (-3.96%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (0567.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Daisho Microline Holdings Limited to open at HK$0.0860, and during the day (based on 14 day Average True Range), to move between HK$0.0827 and HK$0.0973, which gives a possible trading interval of +/-HK$0.0073 (+/-8.16%) up or down from last closing price. If Daisho Microline Holdings Limited takes out the full calculated possible swing range there will be an estimated 16.33% 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$0.0930 (3.33%) than the support at HK$0.0850 (5.56%), 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 Daisho Microline Holdings Limited stock A Buy?

Daisho Microline 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 Daisho Microline Holdings Limited of Tuesday, July 2, 2024

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