Tongfang Kontafarma Holdings Limited Stock Forecast

Red day on Friday for Tongfang Kontafarma Holdings Limited stock after losing 0%
(Updated on Jun 14, 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$0.0360 and HK$0.0348. 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 Friday, May 24, 2024, and so far it has fallen -20.00%. 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 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

Tongfang Kontafarma Holdings Limited finds support from accumulated volume at HK$0.0350 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". 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 1.71%.

Tongfang Kontafarma Holdings Limited is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: HK$0.0336 (-6.60%) (This stock has high daily movements and this gives high risk. Low RSI14 is 20 which reduces the risk some. There is a sell signal from a pivot top found 34 days ago.)

Trading Expectations (1312.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Tongfang Kontafarma Holdings Limited to open at HK$0.0360, and during the day (based on 14 day Average True Range), to move between HK$0.0337 and HK$0.0383, which gives a possible trading interval of +/-HK$0.0023 (+/-6.41%) 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 12.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.0350 (2.78%) than the resistance at HK$0.0370 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Tongfang Kontafarma Holdings Limited stock A Buy?

Several short-term signals, along with a general good trend, 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.

Current score: 1.669 Buy Candidate Unchanged

Predicted Opening Price for Tongfang Kontafarma Holdings Limited of Monday, June 17, 2024

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