Tongfang Kontafarma Holdings Limited Stock Forecast

Tongfang Kontafarma Holdings Limited stock price ended at HK$0.0350 on Thursday, after losing 0%.
(Updated on Jun 20, 2024)

1312.HK Signals & Forecast

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. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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$0.0330 and HK$0.0320. 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$0.0330. If this is broken, then the next support from accumulated volume will be at HK$0.0320 and HK$0.0280.

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 4.52%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1312.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Tongfang Kontafarma Holdings Limited to open at HK$0.0350, and during the day (based on 14 day Average True Range), to move between HK$0.0327 and HK$0.0373, which gives a possible trading interval of +/-HK$0.0023 (+/-6.56%) 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 13.12% 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$0.0360 (2.86%) than the support at HK$0.0330 (5.71%), 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?

Tongfang Kontafarma Holdings Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.433 Sell Candidate Unchanged

Predicted Opening Price for Tongfang Kontafarma Holdings Limited of Friday, June 21, 2024

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