Miji International Holdings Limited Stock Forecast
Stronger technical forecast for Miji International Holdings Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Miji International Holdings Limited stock price fell by -1.82% on the last day (Friday, 17th May 2024) from HK$0.550 to HK$0.540. During the last trading day the stock fluctuated 1.89% from a day low at HK$0.530 to a day high of HK$0.540. The price has been going up and down for this period, and there has been a -6.9% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -58 thousand shares and in total, 20 thousand shares were bought and sold for approximately HK$11.02 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 590.48% during the next 3 months and, with a 90% probability hold a price between HK$2.06 and HK$6.10 at the end of this 3-month period.
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1715.HK Signals & Forecast
The Miji International Holdings Limited 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$0.577. On a fall, the stock will find some support from the long-term average at approximately HK$0.371. 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. 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 Thursday, April 18, 2024, and so far it has fallen -15.63%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Miji International Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0100 between high and low, or 1.89%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: HK$0.515 (-4.61%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (1715.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Miji International Holdings Limited to open at HK$0.537, and during the day (based on 14 day Average True Range), to move between HK$0.512 and HK$0.568, which gives a possible trading interval of +/-HK$0.0278 (+/-5.15%) up or down from last closing price. If Miji International Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.550, some HK$0.0100 (1.85%) from the current price of HK$0.540, our system finds the risk reward not very attractive.
Is Miji International Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Miji International Holdings Limited 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: 2.919 Buy Candidate Upgraded
Predicted Opening Price for Miji International Holdings Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
HK$0.537 ( 0.617%) | HK$0.540 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1715.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.547 | 1.23 % | |
R2 | 0.543 | 0.527 % | ||
R1 | 0.540 | 0.0901 % | ||
Current price: | 0.540 | |||
Support | S1 | 0.533 | -1.32 % | |
S2 | 0.530 | -1.76 % | ||
S3 | 0.527 | -2.47 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.630 | 16.67 % | |
R2 | 0.570 | 5.56 % | ||
R1 | 0.550 | 1.85 % | ||
Current price | 0.540 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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