Red day on Monday for AIA Group Limited
(Updated on Sep 26, 2022)
Sell candidate since 2022-09-21 Loss -4.14% PDF
The AIA Group Limited stock price fell by -1.01% on the last day (Monday, 26th Sep 2022) from HK$69.05 to HK$68.35. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.99% from a day low at HK$67.90 to a day high of HK$69.25. The price has fallen in 7 of the last 10 days and is down by -8.68% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 24 million shares were bought and sold for approximately HK$1.66 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.09% during the next 3 months and, with a 90% probability hold a price between HK$54.69 and HK$60.89 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.
Signals & Forecast
There are few to no technical positive signals at the moment. The AIA 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$70.34 and HK$74.39. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, September 09, 2022, and so far it has fallen -8.68%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
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$1.35 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 1.51%.
AIA Group Limited is oversold on RSI14 (24). 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 For The Upcoming Trading Day Of Tuesday 27th
For the upcoming trading day on Tuesday, 27th we expect AIA Group Limited to open at HK$68.50, and during the day (based on 14 day Average True Range), to move between HK$66.75 and HK$69.95, which gives a possible trading interval of +/-HK$1.60 (+/-2.34%) up or down from last closing price. If AIA Group Limited takes out the full calculated possible swing range there will be an estimated 4.67% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$2.85 (4.17%) our system find the risk reward not very attractive.
Is AIA Group Limited stock A Buy?
AIA 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: -4.839Sell Candidate Unchanged
Predicted Opening Price for AIA Group Limited of Tuesday, September 27, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price September 27, 2022||Current price|
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About AIA Group Limited
Power Assets Holdings Limited, an investment holding company, generates, transmits, and distributes electricity in Hong Kong, the United Kingdom, Australia, Mainland China, and internationally. It generates energy from thermal, renewable energy, and waste sources. The company also transmits and distributes oil and gas; holds property and deposits; and provides consulting, investing, trust administration, and management services. It has a generati... 1299.HK Profile
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