Water Oasis Group Limited Stock Forecast

Water Oasis Group Limited stock price up 0.85% on Monday
(Updated on May 27, 2024)

1161.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 0.85%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Water Oasis Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$1.22 and HK$1.33. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Water Oasis Group Limited stock

Water Oasis Group Limited finds support from accumulated volume at HK$1.18 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$0.0100 between high and low, or 0.85%. For the last week the stock has had daily average volatility of 2.05%.

Water Oasis Group Limited is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1161.HK) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Water Oasis Group Limited to open at HK$1.19, and during the day (based on 14 day Average True Range), to move between HK$1.15 and HK$1.23, which gives a possible trading interval of +/-HK$0.0386 (+/-3.25%) up or down from last closing price. If Water Oasis Group Limited takes out the full calculated possible swing range there will be an estimated 6.49% 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$1.18 (0.84%) than the resistance at HK$1.22 (2.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Water Oasis Group Limited stock A Buy?

Water Oasis Group Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.705 Sell Candidate Unchanged

Predicted Opening Price for Water Oasis Group Limited of Tuesday, May 28, 2024

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