Kingbo Strike Limited Stock Forecast

Kingbo Strike Limited stock upgraded to Hold/Accumulate.
(Updated on May 24, 2024)

1421.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. The Kingbo Strike Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.375 and HK$0.388. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -19.78%. Further fall is indicated until a new bottom pivot has been found. Kingbo Strike Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Kingbo Strike Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.345 and HK$0.325. 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, Kingbo Strike Limited finds support just below today's level at HK$0.345. If this is broken, then the next support from accumulated volume will be at HK$0.325 and HK$0.305.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0050 (1.39%) between high and low. For the last week, the stock has had daily average volatility of 0.556%.

Our recommended stop-loss: HK$0.346 (-5.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 63 days ago.)

Trading Expectations (1421.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Kingbo Strike Limited to open at HK$0.363, and during the day (based on 14 day Average True Range), to move between HK$0.354 and HK$0.376, which gives a possible trading interval of +/-HK$0.0114 (+/-3.14%) up or down from last closing price. If Kingbo Strike Limited takes out the full calculated possible swing range there will be an estimated 6.27% 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$0.385 (5.48%) than the support at HK$0.345 (5.48%), 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 Kingbo Strike Limited stock A Buy?

Kingbo Strike Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Kingbo Strike Limited of Monday, May 27, 2024

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