Xinyi Glass Holdings Limited Stock Forecast

Xinyi Glass Holdings Limited stock price ended at HK$7.88 on Tuesday, after gaining 0.254%.
(Updated on Apr 23, 2024)

0868.HK Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xinyi Glass 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$7.99 and HK$8.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -17.92%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Xinyi Glass Holdings Limited stock

Xinyi Glass Holdings Limited finds support from accumulated volume at HK$7.63 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$0.160 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 3.42%.

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

Trading Expectations (0868.HK) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Xinyi Glass Holdings Limited to open at HK$7.91, and during the day (based on 14 day Average True Range), to move between HK$7.54 and HK$8.22, which gives a possible trading interval of +/-HK$0.339 (+/-4.30%) up or down from last closing price. If Xinyi Glass Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.60% 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$8.00 (1.52%) than the support at HK$7.63 (3.17%), 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 Xinyi Glass Holdings Limited stock A Buy?

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

Current score: -3.538 Sell Candidate Unchanged

Predicted Opening Price for Xinyi Glass Holdings Limited of Wednesday, April 24, 2024

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