Manulife Financial Corporation Stock Forecast

Red day on Thursday for Manulife Financial Corporation stock after losing 2.04%
(Updated on Jun 27, 2024)

0945.HK Signals & Forecast

The Manulife Financial Corporation 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$200.94 and HK$200.18. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -2.42%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Manulife Financial Corporation stock

Manulife Financial Corporation finds support from accumulated volume at HK$201.00 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$3.00 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 1.17%

Our recommended stop-loss: HK$190.88 (-5.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)

Trading Expectations (0945.HK) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Manulife Financial Corporation to open at HK$202.20, and during the day (based on 14 day Average True Range), to move between HK$198.24 and HK$204.96, which gives a possible trading interval of +/-HK$3.36 (+/-1.67%) up or down from last closing price. If Manulife Financial Corporation takes out the full calculated possible swing range there will be an estimated 3.34% 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$201.80 (0.10%) than the support at HK$201.00 (0.30%), 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 Manulife Financial Corporation 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 Manulife Financial Corporation stock to perform well in the short-term.

Current score: 3.586 Buy Candidate Unchanged

Predicted Opening Price for Manulife Financial Corporation of Friday, June 28, 2024

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