Kin Yat Holdings Limited Stock Forecast

Kin Yat Holdings Limited stock upgraded to Sell Candidate.
(Updated on Jun 20, 2024)

0638.HK Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kin Yat Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.664 and HK$0.664. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -2.94%. 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 Kin Yat Holdings Limited stock

Kin Yat Holdings Limited finds support from accumulated volume at HK$0.650 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0100 between high and low, or 1.52%. For the last week the stock has had daily average volatility of 1.52%.

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

Trading Expectations (0638.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Kin Yat Holdings Limited to open at HK$0.663, and during the day (based on 14 day Average True Range), to move between HK$0.650 and HK$0.670, which gives a possible trading interval of +/-HK$0.0101 (+/-1.53%) up or down from last closing price. If Kin Yat Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.05% 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$0.670 (1.52%) than the support at HK$0.650 (1.52%), 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 Kin Yat Holdings Limited stock A Buy?

The Kin Yat Holdings Limited stock holds several negative signals and despite the positive trend, we believe Kin Yat Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.389 Sell Candidate Upgraded

Predicted Opening Price for Kin Yat Holdings Limited of Friday, June 21, 2024

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