Auto Italia Holdings Limited Stock Forecast
Red day on Thursday for Auto Italia Holdings Limited
(Updated on Jun 20, 2024)
No changes to the price of Auto Italia Holdings Limited stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.148 to a day high of HK$0.148. The price has been going up and down for this period, and there has been a -1.33% loss for the last 2 weeks.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.46% during the next 3 months and, with a 90% probability hold a price between HK$0.142 and HK$0.163 at the end of this 3-month period.
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0720.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 Auto Italia Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.149 and HK$0.150. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -5.13%. 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 Auto Italia Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.139 and HK$0.138. 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, Auto Italia Holdings Limited finds support just below today's level at HK$0.139. If this is broken, then the next support from accumulated volume will be at HK$0.138 and HK$0.135.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.13%.
Our recommended stop-loss: HK$0.139 (-6.04%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (0720.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Auto Italia Holdings Limited to open at HK$0.148, and during the day (based on 14 day Average True Range), to move between HK$0.146 and HK$0.150, which gives a possible trading interval of +/-HK$0.0016 (+/-1.10%) up or down from last closing price. If Auto Italia Holdings Limited takes out the full calculated possible swing range there will be an estimated 2.20% 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$0.149 (0.68%) than the support at HK$0.139 (6.08%), 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 Auto Italia Holdings Limited stock A Buy?
Auto Italia Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Auto Italia Holdings Limited of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
HK$0.148 ( 0%) | HK$0.148 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0720.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.148 | - |
R2 | 0.148 | - |
R1 | 0.148 | - |
Price | 0.148 | |
S1 | 0.148 | - |
S2 | 0.148 | - |
S3 | 0.148 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.155 | 4.73% |
R2 | 0.150 | 1.35% |
R1 | 0.149 | 0.676% |
Price | 0.148 | |
S1 | 0.139 | -6.08% |
S2 | 0.138 | -6.76% |
S3 | 0.135 | -8.78% |
FAQ
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