Branding China Group Limited Stock Forecast
Branding China Group Limited stock upgraded to Sell Candidate.
(Updated on May 06, 2024)
The Branding China Group Limited stock price fell by -3.48% on the last day (Monday, 6th May 2024) from HK$8.04 to HK$7.76. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 7.88% from a day low at HK$7.74 to a day high of HK$8.35. The price has fallen in 7 of the last 10 days and is down by -19.17% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 3 million shares were bought and sold for approximately HK$24.28 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$7.13 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.36% during the next 3 months and, with a 90% probability hold a price between HK$7.80 and HK$11.90 at the end of this 3-month period.
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0863.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Branding China Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$9.04 and HK$8.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -28.15%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Branding China Group Limited stock
Branding China Group Limited finds support from accumulated volume at HK$7.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.610 between high and low, or 7.88%. For the last week, the stock has had daily average volatility of 11.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0863.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Branding China Group Limited to open at HK$7.95, and during the day (based on 14 day Average True Range), to move between HK$6.99 and HK$8.53, which gives a possible trading interval of +/-HK$0.773 (+/-9.96%) up or down from last closing price. If Branding China Group Limited takes out the full calculated possible swing range there will be an estimated 19.92% 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$7.60 (2.06%) than the resistance at HK$8.15 (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 Branding China Group Limited stock A Buy?
The Branding China Group Limited stock holds several negative signals and despite the positive trend, we believe Branding China Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.803 Sell Candidate Upgraded
Predicted Opening Price for Branding China Group Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$7.95 ( 2.45%) | HK$7.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0863.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.56 | 10.31 % | |
| R2 | 8.33 | 7.31 % | ||
| R1 | 8.18 | 5.45 % | ||
| Current price: | 7.76 | |||
| Support | S1 | 7.72 | -0.554 % | |
| S2 | 7.57 | -2.41 % | ||
| S3 | 7.34 | -5.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.63 | 24.10 % | |
| R2 | 8.78 | 13.14 % | ||
| R1 | 8.15 | 5.03 % | ||
| Current price | 7.76 | |||
| Support | S1 | 7.60 | -2.06% | |
| S2 | 6.83 | -11.98% | ||
| S3 | 6.20 | -20.10% |
FAQ
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