Asiainfo Technologies Limited Stock Forecast

Evaluation of Asiainfo Technologies Limited stock downgraded after the last trading session.
(Updated on Jun 17, 2024)

1675.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Asiainfo Technologies 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$6.95 and HK$7.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -9.28%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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

Asiainfo Technologies Limited finds support from accumulated volume at HK$6.82 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$0.140 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 2.21%.

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 Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Asiainfo Technologies Limited to open at HK$6.88, and during the day (based on 14 day Average True Range), to move between HK$6.66 and HK$7.02, which gives a possible trading interval of +/-HK$0.176 (+/-2.57%) up or down from last closing price. If Asiainfo Technologies Limited takes out the full calculated possible swing range there will be an estimated 5.14% 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$6.82 (0.29%) than the resistance at HK$7.20 (5.26%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.869 Sell Candidate Downgraded

Predicted Opening Price for Asiainfo Technologies Limited of Tuesday, June 18, 2024

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