Bossini International Holdings Limited Stock Forecast

Big movements in Bossini International Holdings Limited stock price on Tuesday moving 26.79% between high and low
(Updated on May 14, 2024)

0592.HK Signals & Forecast

The Bossini International Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.116 and HK$0.122. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 -0.735%. 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).

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

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.128 and HK$0.126. 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, Bossini International Holdings Limited finds support just below today's level at HK$0.128. If this is broken, then the next support from accumulated volume will be at HK$0.126 and HK$0.113.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0300 between high and low, or 26.79%. For the last week, the stock has had daily average volatility of 10.78%.

Our recommended stop-loss: HK$0.130 (-4.01%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (0592.HK) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Bossini International Holdings Limited to open at HK$0.130, and during the day (based on 14 day Average True Range), to move between HK$0.125 and HK$0.145, which gives a possible trading interval of +/-HK$0.0101 (+/-7.47%) up or down from last closing price. If Bossini International Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.95% 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$0.142 (5.19%) than the support at HK$0.128 (5.19%), 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 Bossini International Holdings Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Bossini International Holdings Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.283 Buy Candidate Upgraded

Predicted Opening Price for Bossini International Holdings Limited of Thursday, May 16, 2024

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