Putian Communication Group Limited Stock Forecast

Putian Communication Group Limited stock price down 0% on Friday
(Updated on May 31, 2024)

1720.HK Signals & Forecast

The Putian Communication Group Limited 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$0.0599 and HK$0.0578. A breakdown below any of these levels will issue sell signals. 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 Monday, May 20, 2024, and so far it has fallen -10.45%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Putian Communication Group Limited stock

Putian Communication Group Limited finds support from accumulated volume at HK$0.0590 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.36%.

Our recommended stop-loss: HK$0.0564 (-6.02%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (1720.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Putian Communication Group Limited to open at HK$0.0600, and during the day (based on 14 day Average True Range), to move between HK$0.0542 and HK$0.0658, which gives a possible trading interval of +/-HK$0.0058 (+/-9.74%) up or down from last closing price. If Putian Communication Group Limited takes out the full calculated possible swing range there will be an estimated 19.47% 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$0.0610 (1.67%) than the support at HK$0.0590 (1.67%), 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 Putian Communication Group Limited stock A Buy?

Putian Communication Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 1.000 Buy Candidate Unchanged

Predicted Opening Price for Putian Communication Group Limited of Monday, June 3, 2024

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