Wai Yuen Tong Medicine Holdings Limited Stock Forecast

Weaker technical forecast for Wai Yuen Tong Medicine Holdings Limited as stock downgraded to Sell Candidate.
(Updated on Jun 20, 2024)

0897.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 2.35%. 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. The Wai Yuen Tong Medicine 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$0.224. On a fall, the stock will find some support from the short-term average at HK$0.216. 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. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Wai Yuen Tong Medicine Holdings Limited stock

Wai Yuen Tong Medicine Holdings Limited finds support from accumulated volume at HK$0.216 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.84%

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

Trading Expectations (0897.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Wai Yuen Tong Medicine Holdings Limited to open at HK$0.218, and during the day (based on 14 day Average True Range), to move between HK$0.214 and HK$0.222, which gives a possible trading interval of +/-HK$0.0041 (+/-1.90%) up or down from last closing price. If Wai Yuen Tong Medicine Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.79% 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$0.216 (0.92%) than the resistance at HK$0.250 (14.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Wai Yuen Tong Medicine Holdings Limited stock A Buy?

Wai Yuen Tong Medicine 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.933 Sell Candidate Downgraded

Predicted Opening Price for Wai Yuen Tong Medicine Holdings Limited of Friday, June 21, 2024

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