Value Convergence Holdings Limited Stock Forecast
Value Convergence Holdings Limited stock price ended at HK$0.0540 on Friday, after losing 3.57%.
(Updated on May 17, 2024)
The Value Convergence Holdings Limited stock price fell by -3.57% on the last day (Friday, 17th May 2024) from HK$0.0560 to HK$0.0540. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.77% from a day low at HK$0.0530 to a day high of HK$0.0550. The price has been going up and down for this period, and there has been a -11.48% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -13 million shares and in total, 7 million shares were bought and sold for approximately HK$400.46 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.0574 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -58.65% during the next 3 months and, with a 90% probability hold a price between HK$0.0146 and HK$0.0238 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0821.HK Signals & Forecast
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. The Value Convergence Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0584 and HK$0.0768. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -59.09%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Value Convergence Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.0020 between high and low, or 3.77%. For the last week the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0821.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Value Convergence Holdings Limited to open at HK$0.0540, and during the day (based on 14 day Average True Range), to move between HK$0.0503 and HK$0.0577, which gives a possible trading interval of +/-HK$0.0037 (+/-6.82%) up or down from last closing price. If Value Convergence Holdings Limited takes out the full calculated possible swing range there will be an estimated 13.64% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.0560, some HK$0.0020 (3.70%) from the current price of HK$0.0540, our system finds the risk reward not very attractive.
Is Value Convergence Holdings Limited stock A Buy?
Value Convergence Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.711 Strong Sell Candidate Unchanged
Predicted Opening Price for Value Convergence Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.0540 ( 0%) | HK$0.0540 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0821.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0560 | 3.70 % | |
| R2 | 0.0552 | 2.29 % | ||
| R1 | 0.0548 | 1.41 % | ||
| Current price: | 0.0540 | |||
| Support | S1 | 0.0532 | -1.41 % | |
| S2 | 0.0528 | -2.29 % | ||
| S3 | 0.0520 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0670 | 24.07 % | |
| R2 | 0.0610 | 12.96 % | ||
| R1 | 0.0560 | 3.70 % | ||
| Current price | 0.0540 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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