Xinyi Glass Holdings Limited Stock Forecast

Weaker technical forecast for Xinyi Glass Holdings Limited as stock downgraded to Hold/Accumulate.
(Updated on May 03, 2024)

0868.HK Signals & Forecast

The Xinyi Glass Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$8.49 and HK$8.52. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -7.71%. 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$8.59 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$0.360 between high and low, or 4.14%. For the last week, the stock has had daily average volatility of 4.77%.

Our recommended stop-loss: HK$8.38 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)

Trading Expectations (0868.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Xinyi Glass Holdings Limited to open at HK$8.87, and during the day (based on 14 day Average True Range), to move between HK$8.51 and HK$9.21, which gives a possible trading interval of +/-HK$0.354 (+/-3.99%) 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 7.99% 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$8.59 (3.05%) than the resistance at HK$9.16 (3.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Xinyi Glass Holdings Limited stock A Buy?

Xinyi Glass 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.466 Hold/Accumulate Downgraded

Predicted Opening Price for Xinyi Glass Holdings Limited of Monday, May 6, 2024

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