Wan Kei Group Holdings Limited Stock Forecast
Red day on Thursday for Wan Kei Group Holdings Limited stock after losing 2.63%
(Updated on May 02, 2024)
The Wan Kei Group Holdings Limited stock price fell by -2.63% on the last day (Thursday, 2nd May 2024) from HK$0.760 to HK$0.740. During the last trading day the stock fluctuated 8.22% from a day low at HK$0.730 to a day high of HK$0.790. The price has fallen in 6 of the last 10 days and is down by -72.08% for this period. 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 -5 million shares and in total, 2 million shares were bought and sold for approximately HK$1.26 million.
Given the current short-term trend, the stock is expected to rise 63.56% during the next 3 months and, with a 90% probability hold a price between HK$1.21 and HK$4.81 at the end of this 3-month period.
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1718.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Wan Kei Group Holdings 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$1.63 and HK$1.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -73.76%. 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.
Support, Risk & Stop-loss for Wan Kei Group Holdings Limited stock
Wan Kei Group Holdings Limited finds support from accumulated volume at HK$0.710 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0600 between high and low, or 8.22%. For the last week the stock has had daily average volatility of 67.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1718.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Wan Kei Group Holdings Limited to open at HK$0.753, and during the day (based on 14 day Average True Range), to move between HK$0.452 and HK$1.03, which gives a possible trading interval of +/-HK$0.288 (+/-38.86%) up or down from last closing price. If Wan Kei Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 77.73% 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$0.760 (2.70%) than the support at HK$0.710 (4.05%), 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 Wan Kei Group Holdings Limited stock A Buy?
The Wan Kei Group Holdings Limited stock holds several negative signals and despite the positive trend, we believe Wan Kei Group Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.750 Sell Candidate Unchanged
Predicted Opening Price for Wan Kei Group Holdings Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$0.753 ( 1.80%) | HK$0.740 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1718.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 9.91 % | |
| R2 | 0.790 | 6.81 % | ||
| R1 | 0.776 | 4.90 % | ||
| Current price: | 0.740 | |||
| Support | S1 | 0.730 | -1.30 % | |
| S2 | 0.716 | -3.21 % | ||
| S3 | 0.693 | -6.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.86 | 16.22 % | ||
| R1 | 0.760 | 2.70 % | ||
| Current price | 0.740 | |||
| Support | S1 | 0.710 | -4.05% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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