Zhaobangji Properties Holdings Limited Stock Forecast

Zhaobangji Properties Holdings Limited stock price up 4.50% on Friday
(Updated on May 17, 2024)

1660.HK Signals & Forecast

There are mixed signals in the stock today. The Zhaobangji Properties Holdings Limited 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$0.210. On a fall, the stock will find some support from the short-term average at HK$0.206. 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 Friday, April 12, 2024, and so far it has fallen -24.00%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Zhaobangji Properties Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.187 and HK$0.179. 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, Zhaobangji Properties Holdings Limited finds support just below today's level at HK$0.187. If this is broken, then the next support from accumulated volume will be at HK$0.179 and HK$0.175.

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$0.0120 between high and low, or 5.91%. For the last week, the stock has had daily average volatility of 6.95%.

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

Trading Expectations (1660.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Zhaobangji Properties Holdings Limited to open at HK$0.209, and during the day (based on 14 day Average True Range), to move between HK$0.189 and HK$0.229, which gives a possible trading interval of +/-HK$0.0200 (+/-9.58%) up or down from last closing price. If Zhaobangji Properties Holdings Limited takes out the full calculated possible swing range there will be an estimated 19.16% 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$0.213 (1.91%) than the support at HK$0.187 (10.53%), 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 Zhaobangji Properties Holdings Limited stock A Buy?

Zhaobangji Properties Holdings Limited 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: -2.152 Sell Candidate Unchanged

Predicted Opening Price for Zhaobangji Properties Holdings Limited of Monday, May 20, 2024

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