Digital China Holdings Limited Stock Forecast

Red day on Wednesday for Digital China Holdings Limited
(Updated on May 08, 2024)

0861.HK Signals & Forecast

The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Digital China 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$3.01 and HK$3.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -11.04%. 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).

Support, Risk & Stop-loss for Digital China Holdings Limited stock

Digital China Holdings Limited finds support from accumulated volume at HK$2.87 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$0.0900 between high and low, or 3.04%. For the last week, the stock has had daily average volatility of 4.98%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0861.HK) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Digital China Holdings Limited to open at HK$3.00, and during the day (based on 14 day Average True Range), to move between HK$2.86 and HK$3.10, which gives a possible trading interval of +/-HK$0.124 (+/-4.16%) up or down from last closing price. If Digital China Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.31% 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$2.87 (3.69%) than the resistance at HK$3.13 (5.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Digital China Holdings Limited stock A Buy?

The Digital China Holdings Limited stock holds several negative signals and despite the positive trend, we believe Digital China Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.494 Sell Candidate Unchanged

Predicted Opening Price for Digital China Holdings Limited of Thursday, May 9, 2024

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