APT Satellite Holdings Limited Stock Forecast

Red day on Tuesday for APT Satellite Holdings Limited
(Updated on May 21, 2024)

1045.HK Signals & Forecast

The APT Satellite Holdings Limited 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$2.37. On a fall, the stock will find some support from the long-term average at approximately HK$2.22. 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 Monday, May 20, 2024, and so far it has fallen -1.25%. Further fall is indicated until a new bottom pivot has been found. APT Satellite 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". The stock had a Golden Star Signal on Wednesday, April 24, 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 APT Satellite Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$2.22 and HK$2.20. 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, APT Satellite Holdings Limited finds support just below today's level at HK$2.22. If this is broken, then the next support from accumulated volume will be at HK$2.20 and HK$2.18.

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$0.0400 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 1.70%.

Our recommended stop-loss: HK$2.30 (-3.01%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (1045.HK) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect APT Satellite Holdings Limited to open at HK$2.38, and during the day (based on 14 day Average True Range), to move between HK$2.33 and HK$2.41, which gives a possible trading interval of +/-HK$0.0445 (+/-1.88%) up or down from last closing price. If APT Satellite Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.75% 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$2.38 (0.42%) than the support at HK$2.22 (6.33%), 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 APT Satellite Holdings Limited 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 APT Satellite Holdings Limited stock to perform well in the short-term period.

Current score: 2.501 Buy Candidate Unchanged

Predicted Opening Price for APT Satellite Holdings Limited of Wednesday, May 22, 2024

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