Maoye International Holdings Limited Stock Forecast

On Friday, Maoye International Holdings Limited stock price gained an impressive 6.71%
(Updated on Jun 28, 2024)

0848.HK Signals & Forecast

The Maoye International Holdings 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$0.163. On a fall, the stock will find some support from the long-term average at approximately HK$0.154. 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. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 8.16%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 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.

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$0.0090 between high and low, or 5.96%. For the last week the stock has had daily average volatility of 6.73%.

Our recommended stop-loss: HK$0.153 (-3.60%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (0848.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Maoye International Holdings Limited to open at HK$0.157, and during the day (based on 14 day Average True Range), to move between HK$0.149 and HK$0.169, which gives a possible trading interval of +/-HK$0.0096 (+/-6.03%) 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 12.06% 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$0.162 (1.89%) than the support at HK$0.142 (10.69%), 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 Maoye International Holdings Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Maoye International Holdings Limited 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: 2.884 Buy Candidate Upgraded

Predicted Opening Price for Maoye International Holdings Limited of Tuesday, July 2, 2024

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