Ming Yuan Cloud Group Holdings Limited Stock Forecast
Red day on Thursday for Ming Yuan Cloud Group Holdings Limited stock after losing 3.37%
(Updated on Jun 20, 2024)
The Ming Yuan Cloud Group Holdings Limited stock price fell by -3.37% on the last day (Thursday, 20th Jun 2024) from HK$2.08 to HK$2.01. During the last trading day the stock fluctuated 6.06% from a day low at HK$1.98 to a day high of HK$2.10. The price has fallen in 7 of the last 10 days and is down by -17.96% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately HK$13.13 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$1.96 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ming Yuan Cloud Group Holdings Limited stock with a 90% probability to be traded between HK$1.95 and HK$3.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0909.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Ming Yuan Cloud Group Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$2.09 and HK$2.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -39.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ming Yuan Cloud Group Holdings Limited stock
Ming Yuan Cloud Group Holdings Limited finds support from accumulated volume at HK$1.98 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$0.120 between high and low, or 6.06%. For the last week, the stock has had daily average volatility of 4.77%.
Ming Yuan Cloud Group Holdings Limited is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0909.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Ming Yuan Cloud Group Holdings Limited to open at HK$2.03, and during the day (based on 14 day Average True Range), to move between HK$1.86 and HK$2.16, which gives a possible trading interval of +/-HK$0.147 (+/-7.33%) up or down from last closing price. If Ming Yuan Cloud Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.66% 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$2.03 (1.00%) than the support at HK$1.98 (1.49%), 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 Ming Yuan Cloud Group Holdings Limited stock A Buy?
Ming Yuan Cloud Group Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.079 Sell Candidate Unchanged
Predicted Opening Price for Ming Yuan Cloud Group Holdings Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$2.03 ( 1.00%) | HK$2.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0909.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.15 | 6.97% |
| R2 | 2.10 | 4.68% |
| R1 | 2.08 | 3.28% |
| Price | 2.01 | |
| S1 | 1.98 | -1.29% |
| S2 | 1.96 | -2.69% |
| S3 | 1.91 | -4.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.47 | 22.89% |
| R2 | 2.15 | 6.97% |
| R1 | 2.03 | 1.00% |
| Price | 2.01 | |
| S1 | 1.98 | -1.49% |
| S2 | 0 | - |
| S3 | 0 | - |
0909 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jul 05, 2024 | HK$0.100 | 4.98% |
| 2 | Jun 01, 2022 | Jun 01, 2022 | Jun 01, 2022 | HK$0.0680 | 0.708% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | HK$0.0830 | 0.217% |
FAQ
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