Chinney Kin Wing Holdings Limited Stock Forecast

Big movements in Chinney Kin Wing Holdings Limited stock price on Friday moving 10.62% between high and low
(Updated on Jun 14, 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 0.81%. Further rise is indicated until a new top pivot has been found. Chinney Kin Wing Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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$0.278 and HK$0.284. 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). 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$0.246 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$0.0240 between high and low, or 10.62%. For the last week, the stock has had daily average volatility of 6.27%.

Our recommended stop-loss: HK$0.233 (-6.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (1556.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Chinney Kin Wing Holdings Limited to open at HK$0.241, and during the day (based on 14 day Average True Range), to move between HK$0.237 and HK$0.259, which gives a possible trading interval of +/-HK$0.0107 (+/-4.32%) 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 8.65% 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$0.246 (0.81%) than the resistance at HK$0.270 (8.87%), 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?

Chinney Kin Wing Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.399 Hold/Accumulate Upgraded

Predicted Opening Price for Chinney Kin Wing Holdings Limited of Monday, June 17, 2024

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