Huarong International Financial Holdings Stock Forecast

Huarong International Financial Holdings stock price down 0% on Monday
(Updated on Jun 17, 2024)

0993.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 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 Huarong International Financial Holdings 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$0.0550 and HK$0.0557. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, June 04, 2024 and based on theory for this formation the price should fall by -5.56% to HK$0.0510 within 6 trading days since signal was issued (Tuesday, June 18, 2024).

Support, Risk & Stop-loss for Huarong International Financial Holdings stock

Huarong International Financial Holdings finds support from accumulated volume at HK$0.0530 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$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.16%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0993.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Huarong International Financial Holdings Limited to open at HK$0.0540, and during the day (based on 14 day Average True Range), to move between HK$0.0509 and HK$0.0571, which gives a possible trading interval of +/-HK$0.0031 (+/-5.72%) up or down from last closing price. If Huarong International Financial Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.45% 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$0.0550 (1.85%) than the support at HK$0.0530 (1.85%), 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 Huarong International Financial Holdings Limited stock A Buy?

The Huarong International Financial Holdings stock holds several negative signals and despite the positive trend, we believe Huarong International Financial Holdings will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.307 Sell Candidate Unchanged

Predicted Opening Price for Huarong International Financial Holdings Limited of Tuesday, June 18, 2024

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