PW Medtech Group Limited Stock Forecast

Stronger technical forecast for PW Medtech Group Limited stock price after Tuesday trading.
(Updated on May 21, 2024)

1358.HK Signals & Forecast

The PW Medtech Group Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$1.01. On a fall, the stock will find some support from the long-term average at approximately HK$0.97. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Tuesday, May 14, 2024, and so far it has fallen -2.91%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for PW Medtech Group Limited stock

PW Medtech Group Limited finds support from accumulated volume at HK$0.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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$0.0600 between high and low, or 6.12%. For the last week, the stock has had daily average volatility of 2.84%.

Our recommended stop-loss: HK$0.95 (-4.65%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (1358.HK) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect PW Medtech Group Limited to open at HK$1.01, and during the day (based on 14 day Average True Range), to move between HK$0.97 and HK$1.03, which gives a possible trading interval of +/-HK$0.0296 (+/-2.96%) up or down from last closing price. If PW Medtech Group Limited takes out the full calculated possible swing range there will be an estimated 5.92% 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$0.99 (1.00%) than the resistance at HK$1.03 (3.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PW Medtech Group 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 PW Medtech Group Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.505 Buy Candidate Upgraded

Predicted Opening Price for PW Medtech Group Limited of Wednesday, May 22, 2024

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