Wisdom Sports Group Stock Forecast

Wisdom Sports Group stock downgraded to Hold/Accumulate
(Updated on May 23, 2024)

1661.HK Signals & Forecast

The Wisdom Sports Group stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.189. On a fall, the stock will find some support from the long-term average at approximately HK$0.166. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Wisdom Sports Group 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. The very low volume increases the risk and reduces the other technical signals issued. 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 10, 2024, and so far it has fallen -13.33%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Wisdom Sports Group stock

Wisdom Sports Group finds support from accumulated volume at HK$0.174 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0080 between high and low, or 4.49%. For the last week, the stock has had daily average volatility of 3.28%.

Our recommended stop-loss: HK$0.172 (-5.76%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (1661.HK) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Wisdom Sports Group to open at HK$0.182, and during the day (based on 14 day Average True Range), to move between HK$0.167 and HK$0.197, which gives a possible trading interval of +/-HK$0.0149 (+/-8.20%) up or down from last closing price. If Wisdom Sports Group takes out the full calculated possible swing range there will be an estimated 16.39% 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$0.183 (0.55%) than the support at HK$0.174 (4.40%), 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 Wisdom Sports Group stock A Buy?

Wisdom Sports Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.371 Hold/Accumulate Downgraded

Predicted Opening Price for Wisdom Sports Group of Friday, May 24, 2024

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