Asiainfo Technologies Limited Stock Forecast

Red day on Friday for Asiainfo Technologies Limited
(Updated on May 17, 2024)

1675.HK Signals & Forecast

The Asiainfo Technologies 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$7.42 and HK$7.18. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Monday, May 13, 2024, and so far it has fallen -0.663%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Asiainfo Technologies Limited stock

Asiainfo Technologies Limited finds support from accumulated volume at HK$7.35 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$0.160 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 2.45%.

The Asiainfo Technologies Limited stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that 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: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1675.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Asiainfo Technologies Limited to open at HK$7.51, and during the day (based on 14 day Average True Range), to move between HK$7.30 and HK$7.68, which gives a possible trading interval of +/-HK$0.193 (+/-2.58%) up or down from last closing price. If Asiainfo Technologies Limited takes out the full calculated possible swing range there will be an estimated 5.15% 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$7.35 (1.87%) than the resistance at HK$7.83 (4.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Asiainfo Technologies Limited stock A Buy?

Asiainfo Technologies 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: -1.021 Sell Candidate Unchanged

Predicted Opening Price for Asiainfo Technologies Limited of Monday, May 20, 2024

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