ICO Group Limited Stock Forecast

ICO Group Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)

1460.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ICO Group 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$0.166 and HK$0.190. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for ICO Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.150. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$ may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high 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 0.368%.

ICO Group Limited is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1460.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect ICO Group Limited to open at HK$0.160, and during the day (based on 14 day Average True Range), to move between HK$0.150 and HK$0.170, which gives a possible trading interval of +/-HK$0.0099 (+/-6.16%) up or down from last closing price. If ICO Group Limited takes out the full calculated possible swing range there will be an estimated 12.31% 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$0.166 (3.75%) than the support at HK$0.150 (6.25%), 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 ICO Group Limited stock A Buy?

ICO Group Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.637 Sell Candidate Downgraded

Predicted Opening Price for ICO Group Limited of Thursday, June 27, 2024

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