Trio Industrial Electronics Group Ltd Stock Forecast

Trio Industrial Electronics Group Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 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$0.259 and HK$0.233. 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). 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 -5.45%. Further fall is indicated until a new bottom pivot has been found. Trio Industrial Electronics Group Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

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

Trio Industrial Electronics Group Ltd finds support from accumulated volume at HK$0.250 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 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$0.0100 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 5.45%.

Our recommended stop-loss: HK$0.248 (-4.51%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 36 days ago.)

Trading Expectations (1710.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th 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$0.247 and HK$0.273, which gives a possible trading interval of +/-HK$0.0132 (+/-5.09%) 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 10.18% 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$0.265 (1.92%) than the support at HK$0.250 (3.85%), 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, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.200 Buy Candidate Upgraded

Predicted Opening Price for Trio Industrial Electronics Group Limited of Monday, June 17, 2024

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