Public Financial Holdings Limited Stock Forecast

Green day on Friday for Public Financial Holdings Limited stock after gaining 0.781%
(Updated on May 17, 2024)

0626.HK Signals & Forecast

The Public Financial Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$1.26 and HK$1.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 4.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Public Financial Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Monday, March 11, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Public Financial Holdings Limited stock

Public Financial Holdings Limited finds support from accumulated volume at HK$1.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0400 (3.13%) between high and low. For the last week, the stock has had daily average volatility of 3.53%.

Our recommended stop-loss: HK$1.23 (-4.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (0626.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Public Financial Holdings Limited to open at HK$1.30, and during the day (based on 14 day Average True Range), to move between HK$1.26 and HK$1.32, which gives a possible trading interval of +/-HK$0.0298 (+/-2.31%) up or down from last closing price. If Public Financial Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.62% 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$1.30 (0.78%) than the support at HK$1.26 (2.33%), 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 Public Financial Holdings Limited stock A Buy?

Public Financial Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.601 Hold/Accumulate Unchanged

Predicted Opening Price for Public Financial Holdings Limited of Monday, May 20, 2024

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