China Kingstone Mining Holdings Ltd Stock Forecast
Volatile ride for China Kingstone Mining Holdings Ltd stock price on Friday moving between HK$0.170 and HK$0.195
(Updated on May 31, 2024)
The China Kingstone Mining Holdings Ltd stock price gained 11.83% on the last trading day (Friday, 31st May 2024), rising from HK$0.169 to HK$0.189. During the last trading day the stock fluctuated 14.71% from a day low at HK$0.170 to a day high of HK$0.195. The price has risen in 4 of the last 10 days and is up by 12.5% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$1.71 million.
Given the current short-term trend, the stock is expected to fall -11.98% during the next 3 months and, with a 90% probability hold a price between HK$0.131 and HK$0.166 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.
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1380.HK Signals & Forecast
The China Kingstone Mining Holdings Ltd 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$0.172 and HK$0.171. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 18.13%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for China Kingstone Mining Holdings Ltd stock
China Kingstone Mining Holdings Ltd finds support from accumulated volume at HK$0.185 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0250 between high and low, or 14.71%. For the last week the stock has had daily average volatility of 5.09%.
Our recommended stop-loss: HK$0.182 (-3.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 82 days ago.)
Trading Expectations (1380.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect China Kingstone Mining Holdings Ltd to open at HK$0.185, and during the day (based on 14 day Average True Range), to move between HK$0.181 and HK$0.197, which gives a possible trading interval of +/-HK$0.0081 (+/-4.30%) up or down from last closing price. If China Kingstone Mining Holdings Ltd takes out the full calculated possible swing range there will be an estimated 8.59% 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$0.190 (0.53%) than the support at HK$0.185 (2.12%), 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 China Kingstone Mining Holdings Ltd stock A Buy?
China Kingstone Mining Holdings Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for China Kingstone Mining Holdings Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$0.185 ( 2.29%) | HK$0.189 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1380.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.210 | 10.93 % | |
| R2 | 0.200 | 5.88 % | ||
| R1 | 0.194 | 2.76 % | ||
| Current price: | 0.189 | |||
| Support | S1 | 0.175 | -7.35 % | |
| S2 | 0.169 | -10.47 % | ||
| S3 | 0.160 | -15.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.197 | 4.23 % | |
| R2 | 0.194 | 2.65 % | ||
| R1 | 0.190 | 0.529 % | ||
| Current price | 0.189 | |||
| Support | S1 | 0.185 | -2.12% | |
| S2 | 0.184 | -2.65% | ||
| S3 | 0.170 | -10.05% |
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