LUZHENG FUTURES Company Limited Stock Forecast

LUZHENG FUTURES Company Limited stock upgraded to Hold/Accumulate.
(Updated on May 24, 2024)

1461.HK Signals & Forecast

There are mixed signals in the stock today. The LUZHENG FUTURES Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.542. On a fall, the stock will find some support from the short-term average at HK$0.537. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, May 08, 2024 with a target of HK$0.554. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for LUZHENG FUTURES Company Limited stock

LUZHENG FUTURES Company Limited finds support from accumulated volume at HK$0.530 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 4.35%

Our recommended stop-loss: HK$0.517 (-4.24%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (1461.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect LUZHENG FUTURES Company Limited to open at HK$0.540, and during the day (based on 14 day Average True Range), to move between HK$0.517 and HK$0.563, which gives a possible trading interval of +/-HK$0.0231 (+/-4.28%) up or down from last closing price. If LUZHENG FUTURES Company Limited takes out the full calculated possible swing range there will be an estimated 8.56% 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$0.550 (1.85%) than the support at HK$0.530 (1.85%), 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 LUZHENG FUTURES Company Limited stock A Buy?

LUZHENG FUTURES Company Limited 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. 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 LUZHENG FUTURES Company Limited of Monday, May 27, 2024

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