Hopefluent Group Holdings Limited Stock Forecast

Big movements in Hopefluent Group Holdings Limited stock price on Thursday moving 12.86% between high and low
(Updated on Jun 20, 2024)

0733.HK Signals & Forecast

The Hopefluent Group Holdings 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$0.704. On a fall, the stock will find some support from the long-term average at approximately HK$0.634. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -9.09%. Further fall is indicated until a new bottom pivot has been found. Hopefluent Group Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Hopefluent Group Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.650 and HK$0.580. 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, Hopefluent Group Holdings Limited finds support just below today's level at HK$0.650. If this is broken, then the next support from accumulated volume will be at HK$0.580 and HK$0.560.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0900 between high and low, or 12.86%. For the last week, the stock has had daily average volatility of 3.65%.

Our recommended stop-loss: HK$0.676 (-3.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (0733.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Hopefluent Group Holdings Limited to open at HK$0.730, and during the day (based on 14 day Average True Range), to move between HK$0.666 and HK$0.734, which gives a possible trading interval of +/-HK$0.0337 (+/-4.81%) up or down from last closing price. If Hopefluent Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.63% 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$0.720 (2.86%) than the support at HK$0.650 (7.14%), 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 Hopefluent Group Holdings Limited stock A Buy?

Hopefluent Group 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: 0.906 Hold/Accumulate Unchanged

Predicted Opening Price for Hopefluent Group Holdings Limited of Friday, June 21, 2024

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