Maoye International Holdings Limited Stock Forecast

Red day on Thursday for Maoye International Holdings Limited
(Updated on Jun 20, 2024)

0848.HK Signals & Forecast

The Maoye International 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$0.168 and HK$0.152. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Maoye International Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.142 and HK$0.141. 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, Maoye International Holdings Limited finds support just below today's level at HK$0.142. If this is broken, then the next support from accumulated volume will be at HK$0.141 and HK$0.140.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.63%

The Maoye International Holdings Limited 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$0.168 (-3.48%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (0848.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Maoye International Holdings Limited to open at HK$0.174, and during the day (based on 14 day Average True Range), to move between HK$0.168 and HK$0.180, which gives a possible trading interval of +/-HK$0.0065 (+/-3.73%) up or down from last closing price. If Maoye International Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.142, some HK$0.0320 (18.39%) from the current price of HK$0.174, our system finds the risk reward attractive.

Is Maoye International Holdings Limited stock A Buy?

Maoye International 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Maoye International Holdings Limited of Friday, June 21, 2024

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