Huali University Group Ltd Stock Forecast

Stronger technical forecast for Huali University Group Ltd stock price after Friday trading.
(Updated on Jun 14, 2024)

1756.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 3.28%. 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). Huali University Group Ltd 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 Huali University Group Ltd 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$0.646. On a fall, the stock will find some support from the short-term average at HK$0.627. 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 Huali University Group Ltd stock

Huali University Group Ltd finds support from accumulated volume at HK$0.620 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0 (0%) between high and low. For the last week, the stock has had daily average volatility of 1.29%.

Our recommended stop-loss: HK$0.597 (-5.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)

Trading Expectations (1756.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Huali University Group Ltd to open at HK$0.630, and during the day (based on 14 day Average True Range), to move between HK$0.610 and HK$0.650, which gives a possible trading interval of +/-HK$0.0200 (+/-3.18%) up or down from last closing price. If Huali University Group Ltd takes out the full calculated possible swing range there will be an estimated 6.35% 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$0.640 (1.59%) than the support at HK$0.620 (1.59%), 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 Huali University Group Ltd stock A Buy?

Huali University Group Ltd 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Huali University Group Ltd of Monday, June 17, 2024

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