PINE Technology Holdings Limited Stock Forecast
Red day on Thursday for PINE Technology Holdings Limited
(Updated on May 23, 2024)
The PINE Technology Holdings Limited stock price fell by -4.55% on the last day (Thursday, 23rd May 2024) from HK$0.0440 to HK$0.0420. During the last trading day the stock fluctuated 0% from a day low at HK$0.0420 to a day high of HK$0.0420. The price has been going up and down for this period, and there has been a 13.51% 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 -4 million shares and in total, 308 thousand shares were bought and sold for approximately HK$12.94 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.0439 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.60% during the next 3 months and, with a 90% probability hold a price between HK$0.0286 and HK$0.0388 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1079.HK Signals & Forecast
The PINE Technology 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$0.0421. On a fall, the stock will find some support from the long-term average at approximately HK$0.0393. 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 Wednesday, May 22, 2024, and so far it has fallen -4.55%. 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PINE Technology Holdings Limited stock
PINE Technology Holdings Limited finds support from accumulated volume at HK$0.0410 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: HK$0.0403 (-3.93%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (1079.HK) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect PINE Technology Holdings Limited to open at HK$0.0420, and during the day (based on 14 day Average True Range), to move between HK$0.0394 and HK$0.0446, which gives a possible trading interval of +/-HK$0.0026 (+/-6.22%) up or down from last closing price. If PINE Technology Holdings Limited takes out the full calculated possible swing range there will be an estimated 12.44% 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$0.0430 (2.38%) than the support at HK$0.0410 (2.38%), 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 PINE Technology Holdings Limited stock A Buy?
PINE Technology 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.
Current score: -0.825 Hold/Accumulate Unchanged
Predicted Opening Price for PINE Technology Holdings Limited of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
HK$0.0420 ( 0%) | HK$0.0420 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1079.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0420 | . | |
R2 | 0.0420 | . | ||
R1 | 0.0420 | . | ||
Current price: | 0.0420 | |||
Support | S1 | 0.0420 | . | |
S2 | 0.0420 | . | ||
S3 | 0.0420 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0480 | 14.29 % | |
R2 | 0.0440 | 4.76 % | ||
R1 | 0.0430 | 2.38 % | ||
Current price | 0.0420 | |||
Support | S1 | 0.0410 | -2.38% | |
S2 | 0.0400 | -4.76% | ||
S3 | 0.0390 | -7.14% |
1079 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 17, 2010 | Oct 26, 2010 | Nov 15, 2010 | HK$0.0100 | 3.23% |
2 | Sep 20, 2000 | Oct 31, 2000 | Dec 08, 2000 | HK$0.0200 | 1.87% |
FAQ
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