Tesson Holdings Limited Stock Forecast

Tesson Holdings Limited stock price ended at HK$0.0690 on Thursday, after losing 1.43%.
(Updated on Jul 04, 2024)

1201.HK Signals & Forecast

The Tesson 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$0.0681 and HK$0.0653. A breakdown below any of these levels will issue sell signals. 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, June 26, 2024, and so far it has fallen -2.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tesson Holdings Limited stock

Tesson Holdings Limited finds support from accumulated volume at HK$0.0680 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$0.0010 between high and low, or 1.45%. For the last week the stock has had daily average volatility of 8.19%.

Our recommended stop-loss: HK$0.0657 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (1201.HK) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Tesson Holdings Limited to open at HK$0.0693, and during the day (based on 14 day Average True Range), to move between HK$0.0625 and HK$0.0755, which gives a possible trading interval of +/-HK$0.0065 (+/-9.49%) up or down from last closing price. If Tesson Holdings Limited takes out the full calculated possible swing range there will be an estimated 18.98% 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$0.0700 (1.45%) than the support at HK$0.0680 (1.45%), 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 Tesson Holdings Limited stock A Buy?

Tesson 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: 0.613 Hold/Accumulate Unchanged

Predicted Opening Price for Tesson Holdings Limited of Friday, July 5, 2024

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