Chinney Kin Wing Holdings Limited Stock Forecast

Red day on Thursday for Chinney Kin Wing Holdings Limited
(Updated on Jun 20, 2024)

1556.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 1.22%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chinney Kin Wing Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.257 and HK$0.281. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Chinney Kin Wing Holdings Limited 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". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, January 19, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Chinney Kin Wing Holdings Limited stock

Chinney Kin Wing Holdings Limited finds support from accumulated volume at HK$0.248 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0110 between high and low, or 4.42%. For the last week, the stock has had daily average volatility of 4.81%.

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

Trading Expectations (1556.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Chinney Kin Wing Holdings Limited to open at HK$0.253, and during the day (based on 14 day Average True Range), to move between HK$0.238 and HK$0.260, which gives a possible trading interval of +/-HK$0.0110 (+/-4.43%) up or down from last closing price. If Chinney Kin Wing Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.86% 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$0.248 (0.40%) than the resistance at HK$0.270 (8.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Chinney Kin Wing Holdings Limited stock A Buy?

The Chinney Kin Wing Holdings Limited stock holds several negative signals and despite the positive trend, we believe Chinney Kin Wing Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.308 Sell Candidate Unchanged

Predicted Opening Price for Chinney Kin Wing Holdings Limited of Friday, June 21, 2024

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