PacRay International Holdings Limited Stock Forecast

Green day on Friday for PacRay International Holdings Limited
(Updated on May 17, 2024)

1010.HK Signals & Forecast

Mostly positive signals in the chart today. 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$0.511 and HK$0.517. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 13.68%. Further rise is indicated until a new top pivot has been found. 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.

Support, Risk & Stop-loss for PacRay International Holdings Limited stock

PacRay International Holdings Limited finds support from accumulated volume at HK$0.520 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0450 (9.09%) between high and low. For the last week, the stock has had daily average volatility of 8.95%.

Our recommended stop-loss: HK$0.512 (-5.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (1010.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect PacRay International Holdings Limited to open at HK$0.525, and during the day (based on 14 day Average True Range), to move between HK$0.501 and HK$0.579, which gives a possible trading interval of +/-HK$0.0387 (+/-7.17%) 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 14.35% 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$0.520 (3.70%) than the resistance at HK$0.570 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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: 3.169 Buy Candidate Unchanged

Predicted Opening Price for PacRay International Holdings Limited of Monday, May 20, 2024

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