China Minsheng DIT Group Limited Stock Forecast

Green day on Thursday for China Minsheng DIT Group Limited
(Updated on Jun 27, 2024)

0726.HK Signals & Forecast

A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -2.17%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The China Minsheng DIT Group Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.180. On a fall, the stock will find some support from the long-term average at approximately HK$0.162. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.

Support, Risk & Stop-loss for China Minsheng DIT Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.164 and HK$0.161. 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, China Minsheng DIT Group Limited finds support just below today's level at HK$0.164. If this is broken, then the next support from accumulated volume will be at HK$0.161 and HK$0.151.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. 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 0.787%.

Our recommended stop-loss: HK$0.173 (-4.01%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (0726.HK) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect China Minsheng DIT Group Limited to open at HK$0.180, and during the day (based on 14 day Average True Range), to move between HK$0.170 and HK$0.190, which gives a possible trading interval of +/-HK$0.0100 (+/-5.58%) up or down from last closing price. If China Minsheng DIT Group Limited takes out the full calculated possible swing range there will be an estimated 11.15% 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$0.183 (1.67%) than the support at HK$0.164 (8.89%), 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 China Minsheng DIT Group Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 2.887 Buy Candidate Unchanged

Predicted Opening Price for China Minsheng DIT Group Limited of Friday, June 28, 2024

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