Tiangong International Company Limited Stock Forecast

Tiangong International Company Limited stock price ended at HK$1.79 on Friday, after losing 1.65%.
(Updated on May 31, 2024)

0826.HK Signals & Forecast

The Tiangong International Company 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$1.80. On a fall, the stock will find some support from the long-term average at approximately HK$1.79. 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. 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 Friday, May 10, 2024, and so far it has fallen -5.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Tiangong International Company Limited stock

Tiangong International Company Limited finds support from accumulated volume at HK$1.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0600 (3.39%) between high and low. For the last week, the stock has had daily average volatility of 3.29%.

Our recommended stop-loss: HK$1.72 (-3.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (0826.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Tiangong International Company Limited to open at HK$1.80, and during the day (based on 14 day Average True Range), to move between HK$1.71 and HK$1.87, which gives a possible trading interval of +/-HK$0.0763 (+/-4.26%) up or down from last closing price. If Tiangong International Company Limited takes out the full calculated possible swing range there will be an estimated 8.53% 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$1.81 (1.12%) than the support at HK$1.71 (4.47%), 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 Tiangong International Company Limited stock A Buy?

Tiangong International Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.097 Hold/Accumulate Unchanged

Predicted Opening Price for Tiangong International Company Limited of Monday, June 3, 2024

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