Perfect Shape Medical Limited Stock Forecast

Perfect Shape Medical Limited stock upgraded to Sell Candidate.
(Updated on Apr 24, 2024)

1830.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 4.70%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Perfect Shape Medical Limited 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$3.03. On a fall, the stock will find some support from the short-term average at HK$2.44. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Perfect Shape Medical Limited stock

Perfect Shape Medical Limited finds support from accumulated volume at HK$2.39 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$0.100 between high and low, or 4.17%. For the last week, the stock has had daily average volatility of 3.72%.

Perfect Shape Medical Limited is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (1830.HK) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Perfect Shape Medical Limited to open at HK$2.45, and during the day (based on 14 day Average True Range), to move between HK$2.33 and HK$2.57, which gives a possible trading interval of +/-HK$0.120 (+/-4.90%) up or down from last closing price. If Perfect Shape Medical Limited takes out the full calculated possible swing range there will be an estimated 9.79% 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$2.51 (2.45%) than the support at HK$2.39 (2.45%), 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 Perfect Shape Medical Limited stock A Buy?

Perfect Shape Medical Limited holds several negative signals and we believe that 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: -3.943 Sell Candidate Upgraded

Predicted Opening Price for Perfect Shape Medical Limited of Thursday, April 25, 2024

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