UMP Healthcare Holdings Limited Stock Forecast

UMP Healthcare Holdings Limited stock price ended at HK$0.500 on Tuesday, after losing 0%.
(Updated on Apr 30, 2024)

0722.HK Signals & Forecast

The UMP Healthcare 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$0.491 and HK$0.486. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 08, 2024, and so far it has risen 11.11%. 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 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".

Support, Risk & Stop-loss for UMP Healthcare Holdings Limited stock

UMP Healthcare Holdings Limited finds support from accumulated volume at HK$0.495 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.28%.

Our recommended stop-loss: HK$0.481 (-3.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (0722.HK) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect UMP Healthcare Holdings Limited to open at HK$0.500, and during the day (based on 14 day Average True Range), to move between HK$0.488 and HK$0.512, which gives a possible trading interval of +/-HK$0.0115 (+/-2.30%) up or down from last closing price. If UMP Healthcare Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.495 (1.00%) than the resistance at HK$0.510 (2.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is UMP Healthcare Holdings Limited stock A Buy?

UMP Healthcare 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: 0.881 Hold/Accumulate Unchanged

Predicted Opening Price for UMP Healthcare Holdings Limited of Thursday, May 2, 2024

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