International Entertainment Corporation Stock Forecast

International Entertainment Corporation stock price down 3.00% on Friday
(Updated on May 17, 2024)

1009.HK Signals & Forecast

The International Entertainment Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$1.07. On a fall, the stock will find some support from the long-term average at approximately HK$0.796. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, May 10, 2024, and so far it has fallen -44.57%. 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. The stock had a Golden Star Signal on Wednesday, February 07, 2024 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 International Entertainment Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.85 and HK$0.80. 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, International Entertainment Corporation finds support just below today's level at HK$0.85. If this is broken, then the next support from accumulated volume will be at HK$0.80 and HK$0.750.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0300 between high and low, or 3.09%. For the last week the stock has had daily average volatility of 72.88%.

Our recommended stop-loss: HK$0.91 (-5.86%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (1009.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect International Entertainment Corporation to open at HK$0.98, and during the day (based on 14 day Average True Range), to move between HK$0.765 and HK$1.17, which gives a possible trading interval of +/-HK$0.205 (+/-21.13%) up or down from last closing price. If International Entertainment Corporation takes out the full calculated possible swing range there will be an estimated 42.27% 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$1.00 (3.09%) than the support at HK$0.85 (12.37%), 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 International Entertainment Corporation stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for International Entertainment Corporation stock to perform well in the short-term period.

Current score: 1.116 Buy Candidate Unchanged

Predicted Opening Price for International Entertainment Corporation of Monday, May 20, 2024

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