PacRay International Holdings Limited Stock Forecast
PacRay International Holdings Limited stock price down 1.92% on Thursday
(Updated on May 02, 2024)
The PacRay International Holdings Limited stock price fell by -1.92% on the last day (Thursday, 2nd May 2024) from HK$0.520 to HK$0.510. During the last trading day the stock fluctuated 9.28% from a day low at HK$0.485 to a day high of HK$0.530. The price has been going up and down for this period, and there has been a 6.25% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -19 million shares and in total, 1 million shares were bought and sold for approximately HK$744.60 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.91% during the next 3 months and, with a 90% probability hold a price between HK$0.528 and HK$0.761 at the end of this 3-month period.
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1010.HK Signals & Forecast
The PacRay International Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.506 and HK$0.507. A breakdown below any of these levels will issue sell signals. 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, March 26, 2024, and so far it has fallen -17.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 PacRay International Holdings Limited stock
PacRay International Holdings Limited finds support from accumulated volume at HK$0.500 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0450 between high and low, or 9.28%. For the last week the stock has had daily average volatility of 8.27%.
Our recommended stop-loss: HK$0.485 (-4.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (1010.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect PacRay International Holdings Limited to open at HK$0.508, and during the day (based on 14 day Average True Range), to move between HK$0.474 and HK$0.546, which gives a possible trading interval of +/-HK$0.0357 (+/-7.01%) up or down from last closing price. If PacRay International Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.01% 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$0.520 (1.96%) than the support at HK$0.500 (1.96%), 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 PacRay International Holdings Limited 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 PacRay International Holdings Limited stock to perform well in the short-term.
Current score: 3.802 Buy Candidate Unchanged
Predicted Opening Price for PacRay International Holdings Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$0.508 ( 0.327%) | HK$0.510 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1010.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.553 | 8.50 % | |
| R2 | 0.536 | 5.13 % | ||
| R1 | 0.526 | 3.04 % | ||
| Current price: | 0.510 | |||
| Support | S1 | 0.491 | -3.70 % | |
| S2 | 0.481 | -5.78 % | ||
| S3 | 0.463 | -9.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.620 | 21.57 % | |
| R2 | 0.590 | 15.69 % | ||
| R1 | 0.520 | 1.96 % | ||
| Current price | 0.510 | |||
| Support | S1 | 0.500 | -1.96% | |
| S2 | 0.475 | -6.86% | ||
| S3 | 0.465 | -8.82% |
1010 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 21, 1994 | Jan 17, 1995 | Jan 27, 1995 | HK$0.0200 | 0% |
| 2 | Aug 12, 1994 | Sep 13, 1994 | Sep 23, 1994 | HK$0.0149 | 0% |
FAQ
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