Pa Shun International Holdings Limited Stock Forecast
Is Pa Shun International Holdings Limited stock still a buy after falling -8.70% on Friday?
(Updated on Jun 28, 2024)
The Pa Shun International Holdings Limited stock price fell by -8.70% on the last day (Friday, 28th Jun 2024) from HK$0.0460 to HK$0.0420. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 9.52% from a day low at HK$0.0420 to a day high of HK$0.0460. The price has fallen in 5 of the last 10 days and is down by -23.64% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -234 thousand shares and in total, 36 thousand shares were bought and sold for approximately HK$1.51 thousand.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at HK$0.0432. A reaction back to this level may hold a second chance to get out before further falls.
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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. 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$0.0477 and HK$0.0492. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -19.23%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Pa Shun International Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0040 between high and low, or 9.52%. For the last week the stock has had daily average volatility of 7.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0574.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Pa Shun International Holdings Limited to open at HK$0.0433, and during the day (based on 14 day Average True Range), to move between HK$0.0355 and HK$0.0485, which gives a possible trading interval of +/-HK$0.0065 (+/-15.53%) 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 31.06% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.0460, some HK$0.0040 (9.52%) from the current price of HK$0.0420, our system finds the risk reward not very attractive.
Is Pa Shun International Holdings Limited stock A Buy?
The Pa Shun International Holdings Limited stock holds several negative signals and despite the positive trend, we believe Pa Shun International Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.285 Sell Candidate Unchanged
Predicted Opening Price for Pa Shun International Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.0433 ( 3.17%) | HK$0.0420 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0574.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0473 | 12.70% |
| R2 | 0.0458 | 9.06% |
| R1 | 0.0449 | 6.81% |
| Price | 0.0420 | |
| S1 | 0.0418 | -0.463% |
| S2 | 0.0409 | -2.71% |
| S3 | 0.0393 | -6.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0510 | 21.43% |
| R2 | 0.0490 | 16.67% |
| R1 | 0.0460 | 9.52% |
| Price | 0.0420 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
0574 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2016 | Jun 06, 2016 | Jun 06, 2016 | HK$0.0300 | 4.35% |
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