TravelSky Technology Limited Stock Forecast

TravelSky Technology Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)

0696.HK Signals & Forecast

Mostly positive signals in the chart today. The TravelSky Technology 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$11.02 and HK$9.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 29.41%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for TravelSky Technology Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$9.38 and HK$9.25. 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, TravelSky Technology Limited finds support just below today's level at HK$9.38. If this is broken, then the next support from accumulated volume will be at HK$9.25 and HK$9.10.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.560 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 5.29%.

Our recommended stop-loss: HK$11.13 (-4.53%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (0696.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect TravelSky Technology Limited to open at HK$11.54, and during the day (based on 14 day Average True Range), to move between HK$11.16 and HK$12.16, which gives a possible trading interval of +/-HK$0.500 (+/-4.29%) up or down from last closing price. If TravelSky Technology Limited takes out the full calculated possible swing range there will be an estimated 8.58% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$9.38, some HK$2.28 (19.55%) from the current price of HK$11.66, our system finds the risk reward attractive.

Is TravelSky Technology Limited stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for TravelSky Technology 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 Buy to a Strong Buy candidate.

Current score: 7.426 Strong Buy Candidate Upgraded

Predicted Opening Price for TravelSky Technology Limited of Monday, May 20, 2024

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