AP Rentals Holdings Limited Stock Forecast

Stronger technical forecast for AP Rentals Holdings Limited stock price after Thursday trading.
(Updated on Jun 20, 2024)

1496.HK Signals & Forecast

The AP Rentals 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$0.125 and HK$0.123. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has fallen 0%. 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 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 Tuesday, June 18, 2024 and based on theory for this formation the price should fall by -36.56% to HK$0.0818 within 24 trading days since signal was issued (Tuesday, July 23, 2024).

Support, Risk & Stop-loss for AP Rentals Holdings Limited stock

AP Rentals Holdings Limited finds support from accumulated volume at HK$0.125 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$0.122 (-5.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (1496.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect AP Rentals Holdings Limited to open at HK$0.129, and during the day (based on 14 day Average True Range), to move between HK$0.123 and HK$0.135, which gives a possible trading interval of +/-HK$0.0063 (+/-4.86%) up or down from last closing price. If AP Rentals Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.71% 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$0.125 (3.10%) than the resistance at HK$0.137 (6.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is AP Rentals Holdings 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.052 Buy Candidate Upgraded

Predicted Opening Price for AP Rentals Holdings Limited of Friday, June 21, 2024

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