U Banquet Group Holding Limited Stock Forecast

U Banquet Group Holding Limited stock downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)

1483.HK Signals & Forecast

The U Banquet Group Holding 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$1.21 and HK$1.24. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for U Banquet Group Holding Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.21 and HK$1.17. 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, U Banquet Group Holding Limited finds support just below today's level at HK$1.21. If this is broken, then the next support from accumulated volume will be at HK$1.17 and HK$1.15.

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 3.20%

Our recommended stop-loss: HK$1.29 (-3.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (1483.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect U Banquet Group Holding Limited to open at HK$1.34, and during the day (based on 14 day Average True Range), to move between HK$1.25 and HK$1.43, which gives a possible trading interval of +/-HK$0.0916 (+/-6.83%) up or down from last closing price. If U Banquet Group Holding Limited takes out the full calculated possible swing range there will be an estimated 13.67% 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$1.35 (0.75%) than the support at HK$1.21 (9.70%), 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 U Banquet Group Holding Limited stock A Buy?

U Banquet Group Holding 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.188 Hold/Accumulate Downgraded

Predicted Opening Price for U Banquet Group Holding Limited of Tuesday, July 2, 2024

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