Hilong Holding Limited Stock Forecast

Red day on Friday for Hilong Holding Limited stock after losing 0%
(Updated on May 10, 2024)

1623.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Hilong Holding 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$0.113 and HK$0.113. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Buy

Special Signal Notification

Double Bottom Formation

Support, Risk & Stop-loss for Hilong Holding Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.101 and HK$0.0940. 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, Hilong Holding Limited finds support just below today's level at HK$0.101. If this is broken, then the next support from accumulated volume will be at HK$0.0940 and HK$0.0880.

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 0%

Our recommended stop-loss: HK$0.108 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (1623.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Hilong Holding Limited to open at HK$0.113, and during the day (based on 14 day Average True Range), to move between HK$0.110 and HK$0.116, which gives a possible trading interval of +/-HK$0.0027 (+/-2.40%) up or down from last closing price. If Hilong Holding Limited takes out the full calculated possible swing range there will be an estimated 4.81% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.101, some HK$0.0120 (10.62%) from the current price of HK$0.113, our system finds the risk reward attractive.

Is Hilong Holding Limited stock A Buy?

Hilong Holding 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Hilong Holding Limited of Monday, May 13, 2024

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