Anhui Expressway Company Limited Stock Forecast

Stronger technical forecast for Anhui Expressway Company Limited stock price after Friday trading.
(Updated on May 17, 2024)

0995.HK Signals & Forecast

The Anhui Expressway Company 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$9.64 and HK$9.05. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, May 14, 2024, and so far it has fallen -0.601%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, September 15, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Anhui Expressway Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$8.93 and HK$8.73. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Anhui Expressway Company Limited finds support just below today's level at HK$8.93. If this is broken, then the next support from accumulated volume will be at HK$8.73 and HK$8.40.

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$0.400 between high and low, or 4.19%. For the last week, the stock has had daily average volatility of 4.13%.

Our recommended stop-loss: HK$9.53 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (0995.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Anhui Expressway Company Limited to open at HK$9.80, and during the day (based on 14 day Average True Range), to move between HK$9.61 and HK$10.25, which gives a possible trading interval of +/-HK$0.324 (+/-3.26%) up or down from last closing price. If Anhui Expressway Company Limited takes out the full calculated possible swing range there will be an estimated 6.52% 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$9.97 (0.40%) than the support at HK$8.93 (10.07%), 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 Anhui Expressway Company Limited stock A Buy?

Anhui Expressway Company Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.098 Strong Buy Candidate Upgraded

Predicted Opening Price for Anhui Expressway Company Limited of Monday, May 20, 2024

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