Tongfang Kontafarma Holdings Limited Stock Forecast

Tongfang Kontafarma Holdings Limited stock price ended at HK$0.0380 on Thursday, after losing 0%.
(Updated on May 23, 2024)

1312.HK Signals & Forecast

The Tongfang Kontafarma 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$0.0367 and HK$0.0342. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, April 17, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Tongfang Kontafarma Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0360 and HK$0.0350. 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, Tongfang Kontafarma Holdings Limited finds support just below today's level at HK$0.0360. If this is broken, then the next support from accumulated volume will be at HK$0.0350 and HK$0.0320.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.11%

Our recommended stop-loss: HK$0.0358 (-5.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (1312.HK) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Tongfang Kontafarma Holdings Limited to open at HK$0.0380, and during the day (based on 14 day Average True Range), to move between HK$0.0348 and HK$0.0412, which gives a possible trading interval of +/-HK$0.0032 (+/-8.51%) up or down from last closing price. If Tongfang Kontafarma Holdings Limited takes out the full calculated possible swing range there will be an estimated 17.02% 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$0.0390 (2.63%) than the support at HK$0.0360 (5.26%), 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 Tongfang Kontafarma Holdings Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Tongfang Kontafarma Holdings Limited stock to perform well in the short-term period.

Current score: 2.716 Buy Candidate Unchanged

Predicted Opening Price for Tongfang Kontafarma Holdings Limited of Friday, May 24, 2024

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