Trio Industrial Electronics Group Ltd Stock Forecast

Stronger technical forecast for Trio Industrial Electronics Group Ltd stock price after Thursday trading.
(Updated on Jun 20, 2024)

1710.HK Signals & Forecast

The Trio Industrial Electronics Group Ltd 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$0.261 and HK$0.237. 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). Trio Industrial Electronics Group Ltd 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, June 07, 2024, and so far it has fallen -3.64%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Trio Industrial Electronics Group Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.250 and HK$0.223. 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, Trio Industrial Electronics Group Ltd finds support just below today's level at HK$0.250. If this is broken, then the next support from accumulated volume will be at HK$0.223 and HK$0.217.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0150 between high and low, or 6.00%. For the last week, the stock has had daily average volatility of 2.77%.

Our recommended stop-loss: HK$0.252 (-5.05%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 40 days ago.)

Trading Expectations (1710.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Trio Industrial Electronics Group Limited to open at HK$0.260, and during the day (based on 14 day Average True Range), to move between HK$0.253 and HK$0.277, which gives a possible trading interval of +/-HK$0.0115 (+/-4.35%) up or down from last closing price. If Trio Industrial Electronics Group Limited takes out the full calculated possible swing range there will be an estimated 8.69% 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$0.275 (3.77%) than the support at HK$0.250 (5.66%), 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 Trio Industrial Electronics Group Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Trio Industrial Electronics Group Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.067 Buy Candidate Upgraded

Predicted Opening Price for Trio Industrial Electronics Group Limited of Friday, June 21, 2024

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