Wang On Group Limited Stock Forecast

Big movements in Wang On Group Limited stock price on Monday moving 14.29% between high and low
(Updated on May 27, 2024)

1222.HK Signals & Forecast

The Wang On Group 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$0.0374 and HK$0.0338. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Wang On Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 -9.30%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Wang On Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0350 and HK$0.0340. 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, Wang On Group Limited finds support just below today's level at HK$0.0350. If this is broken, then the next support from accumulated volume will be at HK$0.0340 and HK$0.0330.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0050 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 13.40%.

Our recommended stop-loss: HK$0.0370 (-5.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (1222.HK) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Wang On Group Limited to open at HK$0.0380, and during the day (based on 14 day Average True Range), to move between HK$0.0359 and HK$0.0421, which gives a possible trading interval of +/-HK$0.0031 (+/-7.91%) up or down from last closing price. If Wang On Group Limited takes out the full calculated possible swing range there will be an estimated 15.83% 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$0.0400 (2.56%) than the support at HK$0.0350 (10.26%), 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 Wang On Group Limited stock A Buy?

Wang On Group 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: 0.638 Hold/Accumulate Unchanged

Predicted Opening Price for Wang On Group Limited of Tuesday, May 28, 2024

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