Link Real Estate Investment Trust Stock Forecast

Link Real Estate Investment Trust stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)

0823.HK Signals & Forecast

Mostly positive signals in the chart today. The Link Real Estate Investment Trust 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$34.43 and HK$33.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 12.80%. 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 Link Real Estate Investment Trust stock

Link Real Estate Investment Trust finds support from accumulated volume at HK$33.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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$0.500 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 1.74%.

The Link Real Estate Investment Trust stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$33.80 (-2.89%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (0823.HK) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Link Real Estate Investment Trust to open at HK$34.83, and during the day (based on 14 day Average True Range), to move between HK$33.92 and HK$35.68, which gives a possible trading interval of +/-HK$0.88 (+/-2.54%) up or down from last closing price. If Link Real Estate Investment Trust takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$33.95 (2.44%) than the resistance at HK$36.60 (5.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Link Real Estate Investment Trust stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.524 Buy Candidate Upgraded

Predicted Opening Price for Link Real Estate Investment Trust of Friday, May 10, 2024

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