C.BANNER INTERNATIONAL Holdings Limited Stock Forecast

C.BANNER INTERNATIONAL Holdings Limited stock price took a fall of -5.88% on Tuesday
(Updated on May 21, 2024)

1028.HK Signals & Forecast

The C.BANNER INTERNATIONAL Holdings 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$0.232 and HK$0.222. 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). 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, March 22, 2024, and so far it has fallen -23.81%. Further fall is indicated until a new bottom pivot has been found. C.BANNER INTERNATIONAL Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for C.BANNER INTERNATIONAL Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.220 and HK$0.198. 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, C.BANNER INTERNATIONAL Holdings Limited finds support just below today's level at HK$0.220. If this is broken, then the next support from accumulated volume will be at HK$0.198 and HK$0.181.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0150 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 6.63%.

Our recommended stop-loss: HK$0.229 (-4.64%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 41 days ago.)

Trading Expectations (1028.HK) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect C.BANNER INTERNATIONAL Holdings Limited to open at HK$0.245, and during the day (based on 14 day Average True Range), to move between HK$0.223 and HK$0.257, which gives a possible trading interval of +/-HK$0.0170 (+/-7.07%) up or down from last closing price. If C.BANNER INTERNATIONAL Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.15% 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$0.245 (2.08%) than the support at HK$0.220 (8.33%), 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 C.BANNER INTERNATIONAL Holdings Limited stock A Buy?

C.BANNER INTERNATIONAL Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.885 Hold/Accumulate Downgraded

Predicted Opening Price for C.BANNER INTERNATIONAL Holdings Limited of Wednesday, May 22, 2024

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