Mulsanne Group Holding Ltd Stock Forecast
High volatility in Mulsanne Group Holding Ltd stock price on Tuesday which ended trading at HK$1.18
(Updated on May 14, 2024)
The Mulsanne Group Holding Ltd stock price gained 19.19% on the last trading day (Tuesday, 14th May 2024), rising from HK$0.99 to HK$1.18. During the last trading day the stock fluctuated 19.19% from a day low at HK$0.99 to a day high of HK$1.18. The price has fallen in 6 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately HK$16.52 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$1.15, a level that may pose a second chance to hit a runner. According to fan-theory HK$1.48 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
1817.HK Signals & Forecast
The Mulsanne Group Holding Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$1.05 and HK$1.13. A breakdown below any of these levels will issue sell signals. Mulsanne Group Holding 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. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -1.67%. 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).
Support, Risk & Stop-loss for Mulsanne Group Holding Ltd stock
Mulsanne Group Holding Ltd finds support from accumulated volume at HK$1.14 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.190 between high and low, or 19.19%. For the last week, the stock has had daily average volatility of 8.49%.
Our recommended stop-loss: HK$1.13 (-4.03%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (1817.HK) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Mulsanne Group Holding Ltd to open at HK$1.12, and during the day (based on 14 day Average True Range), to move between HK$1.07 and HK$1.29, which gives a possible trading interval of +/-HK$0.113 (+/-9.58%) up or down from last closing price. If Mulsanne Group Holding Ltd takes out the full calculated possible swing range there will be an estimated 19.16% 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$1.19 (0.85%) than the support at HK$1.14 (3.39%), 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 Mulsanne Group Holding Ltd stock A Buy?
Mulsanne Group Holding 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: -0.363 Hold/Accumulate Upgraded
Predicted Opening Price for Mulsanne Group Holding Ltd of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| HK$1.12 ( 5.37%) | HK$1.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1817.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.31 | 10.73 % | |
| R2 | 1.23 | 4.58 % | ||
| R1 | 1.19 | 0.784 % | ||
| Current price: | 1.18 | |||
| Support | S1 | 1.04 | -11.52 % | |
| S2 | 1.00 | -15.32 % | ||
| S3 | 0.93 | -21.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.22 | 3.39 % | |
| R2 | 1.20 | 1.69 % | ||
| R1 | 1.19 | 0.85 % | ||
| Current price | 1.18 | |||
| Support | S1 | 1.14 | -3.39% | |
| S2 | 1.03 | -12.71% | ||
| S3 | 0.89 | -24.58% |
FAQ
Click here for our free guide on how to buy Mulsanne Group Holding Ltd Stock.
