Pa Shun International Holdings Limited Stock Forecast

Is Pa Shun International Holdings Limited stock still a buy after falling -8.00% on Thursday?
(Updated on Jun 20, 2024)

0574.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Pa Shun International Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.0499 and HK$0.0488. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -16.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Pa Shun International Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 Wednesday, April 24, 2024 and based on theory for this formation the price should go up by 2.17% to HK$0.0470 within 6 trading days since signal was issued (Friday, May 03, 2024).

Support, Risk & Stop-loss for Pa Shun International Holdings Limited stock

Pa Shun International Holdings Limited finds support from accumulated volume at HK$0.0450 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". 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 6.36%.

Our recommended stop-loss: HK$0.0437 (-5.06%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (0574.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Pa Shun International Holdings Limited to open at HK$0.0460, and during the day (based on 14 day Average True Range), to move between HK$0.0390 and HK$0.0530, which gives a possible trading interval of +/-HK$0.0070 (+/-15.30%) up or down from last closing price. If Pa Shun International Holdings Limited takes out the full calculated possible swing range there will be an estimated 30.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.0450 (2.17%) than the resistance at HK$0.0490 (6.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Pa Shun International Holdings Limited stock A Buy?

Pa Shun International Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Pa Shun International Holdings Limited of Friday, June 21, 2024

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