Red Star Macalline Group Corp Ltd. Stock Forecast

Red day on Friday for Red Star Macalline Group Corp Ltd. stock after losing 1.92%
(Updated on May 03, 2024)

1528.HK Signals & Forecast

There are mixed signals in the stock today. The Red Star Macalline Group Corp Ltd. 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$1.58. On a fall, the stock will find some support from the short-term average at HK$1.50. 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 Monday, April 29, 2024, and so far it has fallen -3.16%. Further fall is indicated until a new bottom pivot has been found. Red Star Macalline Group Corp Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Red Star Macalline Group Corp Ltd. stock

Red Star Macalline Group Corp Ltd. finds support from accumulated volume at HK$1.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0300 between high and low, or 1.97%. For the last week, the stock has had daily average volatility of 5.77%.

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

Trading Expectations (1528.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Red Star Macalline Group Corporation Ltd. to open at HK$1.53, and during the day (based on 14 day Average True Range), to move between HK$1.46 and HK$1.60, which gives a possible trading interval of +/-HK$0.0666 (+/-4.35%) up or down from last closing price. If Red Star Macalline Group Corporation Ltd. takes out the full calculated possible swing range there will be an estimated 8.71% 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$1.47 (3.92%) than the resistance at HK$1.69 (10.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Red Star Macalline Group Corporation Ltd. stock A Buy?

Red Star Macalline Group Corp Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.178 Sell Candidate Unchanged

Predicted Opening Price for Red Star Macalline Group Corporation Ltd. of Monday, May 6, 2024

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