China Shengmu Organic Milk Limited Stock Forecast

China Shengmu Organic Milk Limited stock price ended at HK$0.200 on Thursday, after losing 0.99%.
(Updated on May 23, 2024)

1432.HK Signals & Forecast

The China Shengmu Organic Milk 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$0.201. On a fall, the stock will find some support from the long-term average at approximately HK$0.195. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.53%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Shengmu Organic Milk Limited stock

China Shengmu Organic Milk Limited finds support from accumulated volume at HK$0.199 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, but be aware of low or falling volume as this increases the risk. 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 1.82%.

Our recommended stop-loss: HK$0.192 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)

Trading Expectations (1432.HK) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect China Shengmu Organic Milk Limited to open at HK$0.200, and during the day (based on 14 day Average True Range), to move between HK$0.195 and HK$0.205, which gives a possible trading interval of +/-HK$0.0052 (+/-2.60%) up or down from last closing price. If China Shengmu Organic Milk Limited takes out the full calculated possible swing range there will be an estimated 5.20% 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$0.199 (0.50%) than the resistance at HK$0.203 (1.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Shengmu Organic Milk Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.579 Buy Candidate Unchanged

Predicted Opening Price for China Shengmu Organic Milk Limited of Friday, May 24, 2024

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