Peking University Resources (Holdings) Stock Forecast

Peking University Resources (Holdings) stock price up 3.23% on Thursday
(Updated on Jun 20, 2024)

0618.HK Signals & Forecast

A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -5.88%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Peking University Resources (Holdings) 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$0.322. On a fall, the stock will find some support from the long-term average at approximately HK$0.220. 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.

Support, Risk & Stop-loss for Peking University Resources (Holdings) stock

Peking University Resources (Holdings) finds support from accumulated volume at HK$0.315 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0200 between high and low, or 6.45%. For the last week the stock has had daily average volatility of 7.31%.

Our recommended stop-loss: HK$0.302 (-5.64%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 37 days ago.)

Trading Expectations (0618.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Peking University Resources (Holdings) Company Limited to open at HK$0.320, and during the day (based on 14 day Average True Range), to move between HK$0.296 and HK$0.344, which gives a possible trading interval of +/-HK$0.0235 (+/-7.36%) up or down from last closing price. If Peking University Resources (Holdings) Company Limited takes out the full calculated possible swing range there will be an estimated 14.72% 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$0.325 (1.56%) than the support at HK$0.315 (1.56%), 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 Peking University Resources (Holdings) Company Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.561 Buy Candidate Unchanged

Predicted Opening Price for Peking University Resources (Holdings) Company Limited of Friday, June 21, 2024

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