Enterprise Development Holdings Limited Stock Forecast

Enterprise Development Holdings Limited stock price ended at HK$4.19 on Thursday, after gaining 1.95%.
(Updated on Jun 20, 2024)

1808.HK Signals & Forecast

Mostly positive signals in the chart today. The Enterprise Development Holdings 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$3.78 and HK$2.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 74.58%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Enterprise Development Holdings Limited stock

Enterprise Development Holdings Limited finds support from accumulated volume at HK$4.05 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.190 between high and low, or 4.62%. For the last week, the stock has had daily average volatility of 6.58%.

The Enterprise Development Holdings Limited stock is extremely overbought on RSI14 (96). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Enterprise Development Holdings Limited has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: HK$4.06 (-3.08%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (1808.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Enterprise Development Holdings Limited to open at HK$4.20, and during the day (based on 14 day Average True Range), to move between HK$3.99 and HK$4.39, which gives a possible trading interval of +/-HK$0.196 (+/-4.68%) up or down from last closing price. If Enterprise Development Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.36% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$4.05, some HK$0.140 (3.34%) from the current price of HK$4.19, our system finds the risk reward attractive.

Is Enterprise Development Holdings Limited stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Enterprise Development Holdings Limited stock to perform well in the short-term period.

Current score: 8.375 Strong Buy Candidate Unchanged

Predicted Opening Price for Enterprise Development Holdings Limited of Friday, June 21, 2024

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