Asia Resources Holdings Limited Stock Forecast

Asia Resources Holdings Limited stock price up 2.36% on Tuesday
(Updated on Jul 02, 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$0.127 and HK$0.122. 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 8.33%. Further rise is indicated until a new top pivot has been found. Asia Resources 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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$0.0050 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 1.09%.

Our recommended stop-loss: HK$0.123 (-5.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (0899.HK) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Asia Resources Holdings Limited to open at HK$0.132, and during the day (based on 14 day Average True Range), to move between HK$0.122 and HK$0.138, which gives a possible trading interval of +/-HK$0.0082 (+/-6.34%) 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 12.68% 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 (3.08%) than the resistance at HK$0.135 (3.85%), 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?

Asia Resources 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Asia Resources Holdings Limited of Wednesday, July 3, 2024

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