Xinchengyue Holdings Limited Stock Forecast

Stronger technical forecast for Xinchengyue Holdings Limited stock price after Tuesday trading.
(Updated on Apr 16, 2024)

1755.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 7.11%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xinchengyue 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$2.42 and HK$2.55. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Xinchengyue Holdings Limited stock

Xinchengyue Holdings Limited finds support from accumulated volume at HK$2.35 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$0.0700 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 3.78%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1755.HK) For The Upcoming Trading Day Of Wednesday 17th

For the upcoming trading day on Wednesday, 17th we expect Xinchengyue Holdings Limited to open at HK$2.41, and during the day (based on 14 day Average True Range), to move between HK$2.27 and HK$2.55, which gives a possible trading interval of +/-HK$0.139 (+/-5.75%) up or down from last closing price. If Xinchengyue Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.51% 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$2.43 (0.83%) than the support at HK$2.35 (2.49%), 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 Xinchengyue Holdings Limited stock A Buy?

Xinchengyue Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.927 Sell Candidate Upgraded

Predicted Opening Price for Xinchengyue Holdings Limited of Wednesday, April 17, 2024

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