Beijing North Star Company Limited Stock Forecast

Beijing North Star Company Limited stock price ended at HK$0.670 on Thursday, after losing 0%.
(Updated on May 02, 2024)

0588.HK Signals & Forecast

The Beijing North Star Company Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.673. On a fall, the stock will find some support from the long-term average at approximately HK$0.665. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.29%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -4.99% to HK$0.637 within 41 trading days since signal was issued (Friday, May 03, 2024).

Support, Risk & Stop-loss for Beijing North Star Company Limited stock

Beijing North Star Company Limited finds support from accumulated volume at HK$0.660 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0200 between high and low, or 3.08%. For the last week the stock has had daily average volatility of 3.33%

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

Trading Expectations (0588.HK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Beijing North Star Company Limited to open at HK$0.663, and during the day (based on 14 day Average True Range), to move between HK$0.648 and HK$0.692, which gives a possible trading interval of +/-HK$0.0217 (+/-3.23%) up or down from last closing price. If Beijing North Star Company Limited takes out the full calculated possible swing range there will be an estimated 6.47% 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$0.680 (1.49%) than the support at HK$0.660 (1.49%), 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 Beijing North Star Company Limited stock A Buy?

Beijing North Star Company 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.

Current score: -1.129 Sell Candidate Unchanged

Predicted Opening Price for Beijing North Star Company Limited of Friday, May 3, 2024

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