Lenovo Group Limited Stock Forecast

Lenovo Group Limited stock price ended at HK$8.20 on Friday, after losing 0%.
(Updated on Apr 19, 2024)

0992.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has fallen 0%. 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. The Lenovo Group 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$8.35 and HK$9.07. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Lenovo Group Limited stock

Lenovo Group Limited finds support from accumulated volume at HK$8.17 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$0.260 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 3.59%.

Lenovo Group Limited is oversold on RSI14 (24). 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 (0992.HK) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Lenovo Group Limited to open at HK$8.15, and during the day (based on 14 day Average True Range), to move between HK$7.86 and HK$8.54, which gives a possible trading interval of +/-HK$0.342 (+/-4.17%) up or down from last closing price. If Lenovo Group Limited takes out the full calculated possible swing range there will be an estimated 8.34% 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$8.17 (0.37%) than the resistance at HK$8.55 (4.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Lenovo Group Limited stock A Buy?

Lenovo Group 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: -3.759 Sell Candidate Unchanged

Predicted Opening Price for Lenovo Group Limited of Monday, April 22, 2024

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