Yan Tat Group Holdings Limited Stock Forecast

Yan Tat Group Holdings Limited stock price up 2.36% on Friday
(Updated on May 17, 2024)

1480.HK Signals & Forecast

The Yan Tat Group Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$1.24 and HK$1.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 23.81%. 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 also not.

Support, Risk & Stop-loss for Yan Tat Group Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.12 and HK$1.10. 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, Yan Tat Group Holdings Limited finds support just below today's level at HK$1.12. If this is broken, then the next support from accumulated volume will be at HK$1.10 and HK$1.09.

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$0.0100 between high and low, or 0.769%. For the last week the stock has had daily average volatility of 1.63%.

The Yan Tat Group Holdings Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$1.26 (-2.82%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)

Trading Expectations (1480.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Yan Tat Group Holdings Limited to open at HK$1.30, and during the day (based on 14 day Average True Range), to move between HK$1.28 and HK$1.32, which gives a possible trading interval of +/-HK$0.0229 (+/-1.76%) up or down from last closing price. If Yan Tat Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$1.12, some HK$0.180 (13.85%) from the current price of HK$1.30, our system finds the risk reward attractive.

Is Yan Tat Group Holdings Limited stock A Buy?

Yan Tat Group Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 5.052 Strong Buy Candidate Unchanged

Predicted Opening Price for Yan Tat Group Holdings Limited of Monday, May 20, 2024

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