Hanison Construction Holdings Limited Stock Forecast

High volatility in Hanison Construction Holdings Limited stock price on Friday which ended trading at HK$0.475
(Updated on Jun 28, 2024)

0896.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 6.74%. Further rise is indicated until a new top pivot has been found. Hanison Construction Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hanison Construction Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.533. On a fall, the stock will find some support from the short-term average at HK$0.460. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Hanison Construction Holdings Limited stock

Hanison Construction Holdings Limited finds support from accumulated volume at HK$0.460 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$0.0950 between high and low, or 20.88%. For the last week, the stock has had daily average volatility of 6.19%.

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

Trading Expectations (0896.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Hanison Construction Holdings Limited to open at HK$0.493, and during the day (based on 14 day Average True Range), to move between HK$0.447 and HK$0.503, which gives a possible trading interval of +/-HK$0.0277 (+/-5.83%) up or down from last closing price. If Hanison Construction Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.65% 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$0.460 (3.16%) than the resistance at HK$0.495 (4.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hanison Construction Holdings Limited stock A Buy?

Hanison Construction Holdings Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.586 Sell Candidate Upgraded

Predicted Opening Price for Hanison Construction Holdings Limited of Tuesday, July 2, 2024

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