Tao Heung Holdings Limited Stock Forecast

Tao Heung Holdings Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 10, 2024)

0573.HK Signals & Forecast

There are mixed signals in the stock today. The Tao Heung 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$0.726 and HK$0.727. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has fallen 0%. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should go up by 4.17% to HK$0.750 within 2 trading days since signal was issued (Monday, May 13, 2024).

Support, Risk & Stop-loss for Tao Heung Holdings Limited stock

Tao Heung Holdings Limited finds support from accumulated volume at HK$0.710 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.84%.

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

Trading Expectations (0573.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Tao Heung Holdings Limited to open at HK$0.720, and during the day (based on 14 day Average True Range), to move between HK$0.711 and HK$0.729, which gives a possible trading interval of +/-HK$0.0094 (+/-1.31%) up or down from last closing price. If Tao Heung Holdings Limited takes out the full calculated possible swing range there will be an estimated 2.61% 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$0.730 (1.39%) than the support at HK$0.710 (1.39%), 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 Tao Heung Holdings Limited stock A Buy?

Tao Heung Holdings Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.680 Sell Candidate Downgraded

Predicted Opening Price for Tao Heung Holdings Limited of Monday, May 13, 2024

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