MECOM Power and Construction Limited Stock Forecast

MECOM Power and Construction Limited stock price ended at HK$0.178 on Wednesday, after losing 0%.
(Updated on Jun 26, 2024)

1183.HK Signals & Forecast

There are mixed signals in the stock today. The MECOM Power and Construction 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$0.180 and HK$0.188. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.14%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for MECOM Power and Construction Limited stock

MECOM Power and Construction Limited finds support from accumulated volume at HK$0.175 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0060 between high and low, or 3.45%. For the last week, the stock has had daily average volatility of 2.60%.

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

Trading Expectations (1183.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect MECOM Power and Construction Limited to open at HK$0.177, and during the day (based on 14 day Average True Range), to move between HK$0.170 and HK$0.186, which gives a possible trading interval of +/-HK$0.0084 (+/-4.72%) up or down from last closing price. If MECOM Power and Construction Limited takes out the full calculated possible swing range there will be an estimated 9.44% 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$0.180 (1.12%) than the support at HK$0.175 (1.69%), 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 MECOM Power and Construction Limited stock A Buy?

MECOM Power and Construction Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.099 Sell Candidate Unchanged

Predicted Opening Price for MECOM Power and Construction Limited of Thursday, June 27, 2024

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