HK Asia Holdings Limited Stock Forecast

HK Asia Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on May 10, 2024)

1723.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 10.71%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). HK Asia Holdings Limited 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. The HK Asia Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.321. On a fall, the stock will find some support from the short-term average at HK$0.307. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for HK Asia Holdings Limited stock

HK Asia Holdings Limited finds support from accumulated volume at HK$0.300 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0100 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 1.66%.

Our recommended stop-loss: HK$0.292 (-5.79%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (1723.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect HK Asia Holdings Limited to open at HK$0.310, and during the day (based on 14 day Average True Range), to move between HK$0.298 and HK$0.322, which gives a possible trading interval of +/-HK$0.0125 (+/-4.02%) up or down from last closing price. If HK Asia Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.03% 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$0.315 (1.61%) than the support at HK$0.300 (3.23%), 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 HK Asia Holdings Limited stock A Buy?

HK Asia Holdings 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.995 Hold/Accumulate Upgraded

Predicted Opening Price for HK Asia Holdings Limited of Monday, May 13, 2024

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