Vincent Medical Holdings Limited Stock Forecast

Vincent Medical Holdings Limited stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on May 21, 2024)

1612.HK Signals & Forecast

The Vincent Medical 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$0.433 and HK$0.397. 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 Friday, May 17, 2024, and so far it has fallen -4.04%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, May 10, 2024 in the short-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 Vincent Medical Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.400 and HK$0.395. 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, Vincent Medical Holdings Limited finds support just below today's level at HK$0.400. If this is broken, then the next support from accumulated volume will be at HK$0.395 and HK$0.390.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0050 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 6.94%.

The Vincent Medical Holdings Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$0.461 (-2.96%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (1612.HK) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Vincent Medical Holdings Limited to open at HK$0.473, and during the day (based on 14 day Average True Range), to move between HK$0.458 and HK$0.492, which gives a possible trading interval of +/-HK$0.0168 (+/-3.54%) up or down from last closing price. If Vincent Medical Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.09% 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$0.495 (4.21%) than the support at HK$0.400 (15.79%), 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 Vincent Medical Holdings Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Vincent Medical Holdings Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.478 Buy Candidate Upgraded

Predicted Opening Price for Vincent Medical Holdings Limited of Wednesday, May 22, 2024

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