Asia Resources Holdings Limited Stock Forecast

Red day on Monday for Asia Resources Holdings Limited
(Updated on Jun 24, 2024)

0899.HK Signals & Forecast

The Asia Resources Holdings 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$0.124 and HK$0.120. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 5.83%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Asia Resources Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Asia Resources Holdings Limited stock

Asia Resources Holdings Limited finds support from accumulated volume at HK$0.126 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$0.0020 between high and low, or 1.59%. For the last week, the stock has had daily average volatility of 4.38%.

Our recommended stop-loss: HK$0.121 (-4.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (0899.HK) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Asia Resources Holdings Limited to open at HK$0.127, and during the day (based on 14 day Average True Range), to move between HK$0.117 and HK$0.137, which gives a possible trading interval of +/-HK$0.0095 (+/-7.52%) up or down from last closing price. If Asia Resources Holdings Limited takes out the full calculated possible swing range there will be an estimated 15.04% 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$0.126 (0.79%) than the resistance at HK$0.135 (6.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Asia Resources Holdings Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Asia Resources Holdings Limited stock to perform well in the short-term.

Current score: 2.710 Buy Candidate Unchanged

Predicted Opening Price for Asia Resources Holdings Limited of Tuesday, June 25, 2024

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