Kingbo Strike Limited Stock Forecast

On Monday, Kingbo Strike Limited stock price gained an impressive 12.82%
(Updated on Jun 17, 2024)

1421.HK Signals & Forecast

The Kingbo Strike Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.379 and HK$0.383. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 27.54%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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$0.415 and HK$0.400. 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$0.415. If this is broken, then the next support from accumulated volume will be at HK$0.400 and HK$0.380.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0400 between high and low, or 10.00%. For the last week the stock has had daily average volatility of 4.27%.

Our recommended stop-loss: HK$0.426 (-3.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (1421.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Kingbo Strike Limited to open at HK$0.427, and during the day (based on 14 day Average True Range), to move between HK$0.416 and HK$0.464, which gives a possible trading interval of +/-HK$0.0244 (+/-5.55%) up or down from last closing price. If Kingbo Strike Limited takes out the full calculated possible swing range there will be an estimated 11.10% 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$0.455 (3.41%) than the support at HK$0.415 (5.68%), 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?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.908 Buy Candidate Upgraded

Predicted Opening Price for Kingbo Strike Limited of Tuesday, June 18, 2024

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