Playmates Toys Limited Stock Forecast

Playmates Toys Limited stock price ended at HK$0.690 on Friday, after gaining 1.47%.
(Updated on May 17, 2024)

0869.HK Signals & Forecast

The Playmates Toys Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.647 and HK$0.629. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 16.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.

Support, Risk & Stop-loss for Playmates Toys Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.610 and HK$0.600. 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, Playmates Toys Limited finds support just below today's level at HK$0.610. If this is broken, then the next support from accumulated volume will be at HK$0.600 and HK$0.590.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0200 between high and low, or 2.99%. For the last week the stock has had daily average volatility of 3.72%.

The Playmates Toys Limited stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$0.670 (-2.94%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (0869.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Playmates Toys Limited to open at HK$0.683, and during the day (based on 14 day Average True Range), to move between HK$0.664 and HK$0.716, which gives a possible trading interval of +/-HK$0.0256 (+/-3.71%) up or down from last closing price. If Playmates Toys Limited takes out the full calculated possible swing range there will be an estimated 7.42% 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$0.710 (2.90%) than the support at HK$0.610 (11.59%), 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 Playmates Toys Limited stock A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Current score: 1.818 Buy Candidate Unchanged

Predicted Opening Price for Playmates Toys Limited of Monday, May 20, 2024

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