Pico Far East Holdings Limited Stock Forecast

Strong day for Pico Far East Holdings Limited stock price on Friday rising 8.33% to HK$1.82
(Updated on Jun 28, 2024)

0752.HK Signals & Forecast

The Pico Far East 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$1.70 and HK$1.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 15.92%. 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 Pico Far East Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.70 and HK$1.69. 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, Pico Far East Holdings Limited finds support just below today's level at HK$1.70. If this is broken, then the next support from accumulated volume will be at HK$1.69 and HK$1.68.

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$0.160 between high and low, or 9.52%. For the last week the stock has had daily average volatility of 3.58%.

Our recommended stop-loss: HK$1.76 (-3.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 76 days ago.)

Trading Expectations (0752.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Pico Far East Holdings Limited to open at HK$1.78, and during the day (based on 14 day Average True Range), to move between HK$1.78 and HK$1.86, which gives a possible trading interval of +/-HK$0.0430 (+/-2.36%) up or down from last closing price. If Pico Far East Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$1.70, some HK$0.120 (6.59%) from the current price of HK$1.82, our system finds the risk reward attractive.

Is Pico Far East Holdings Limited stock A Buy?

Pico Far East 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Pico Far East Holdings Limited of Tuesday, July 2, 2024

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