Pinestone Capital Limited Stock Forecast

A very strong day for Pinestone Capital Limited stock price on Friday
(Updated on May 17, 2024)

0804.HK Signals & Forecast

The Pinestone Capital 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$0.234 and HK$0.202. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 10.87%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.

Support, Risk & Stop-loss for Pinestone Capital Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.240 and HK$0.198. 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, Pinestone Capital Limited finds support just below today's level at HK$0.240. If this is broken, then the next support from accumulated volume will be at HK$0.198 and HK$0.192.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0150 between high and low, or 6.25%. For the last week the stock has had daily average volatility of 6.60%.

The Pinestone Capital Limited stock is extremely overbought on RSI14 (93). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$0.248 (-2.64%) (This stock has high daily movements and this gives high risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (0804.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Pinestone Capital Limited to open at HK$0.250, and during the day (based on 14 day Average True Range), to move between HK$0.247 and HK$0.263, which gives a possible trading interval of +/-HK$0.0081 (+/-3.17%) up or down from last closing price. If Pinestone Capital Limited takes out the full calculated possible swing range there will be an estimated 6.33% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.240, some HK$0.0150 (5.88%) from the current price of HK$0.255, our system finds the risk reward attractive.

Is Pinestone Capital Limited stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Pinestone Capital Limited stock to perform well in the short-term period.

Current score: 8.150 Strong Buy Candidate Unchanged

Predicted Opening Price for Pinestone Capital Limited of Monday, May 20, 2024

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