Pacific Millennium Packaging Group Corp Stock Forecast

Red day on Wednesday for Pacific Millennium Packaging Group Corp
(Updated on Jun 19, 2024)

1820.HK Signals & Forecast

The Pacific Millennium Packaging Group Corp 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$6.31 and HK$6.31. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, April 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, January 16, 2024.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Pacific Millennium Packaging Group Corp stock

Pacific Millennium Packaging Group Corp finds support from accumulated volume at HK$6.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: HK$6.03 (-4.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (1820.HK) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Pacific Millennium Packaging Group Corporation to open at HK$6.32, and during the day (based on 14 day Average True Range), to move between HK$6.32 and HK$6.32, which gives a possible trading interval of +/-HK$0.0024 (+/-0.04%) up or down from last closing price. If Pacific Millennium Packaging Group Corporation takes out the full calculated possible swing range there will be an estimated 0.08% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$6.31, some HK$0.0100 (0.16%) from the current price of HK$6.32, our system finds the risk reward attractive.

Is Pacific Millennium Packaging Group Corporation stock A Buy?

Pacific Millennium Packaging Group Corp 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.

Current score: -0.119 Hold/Accumulate Unchanged

Predicted Opening Price for Pacific Millennium Packaging Group Corporation of Thursday, June 20, 2024

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