Ping An Healthcare and Technology Co Ltd Stock Forecast
Ping An Healthcare and Technology Co Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)
The Ping An Healthcare and Technology Co Ltd stock price fell by -1.62% on the last day (Monday, 6th May 2024) from HK$12.32 to HK$12.12. During the last trading day the stock fluctuated 4.19% from a day low at HK$11.92 to a day high of HK$12.42. The price has risen in 7 of the last 10 days and is up by 23.93% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 6 million shares were bought and sold for approximately HK$71.53 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$12.48 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.69% during the next 3 months and, with a 90% probability hold a price between HK$8.50 and HK$11.27 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1833.HK Signals & Forecast
The Ping An Healthcare and Technology Co Ltd 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$11.48 and HK$11.37. 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 Friday, May 03, 2024, and so far it has fallen -1.62%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ping An Healthcare and Technology Co Ltd stock
Ping An Healthcare and Technology Co Ltd finds support from accumulated volume at HK$12.00 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$0.500 between high and low, or 4.19%. For the last week, the stock has had daily average volatility of 5.36%.
Our recommended stop-loss: HK$11.61 (-4.18%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (1833.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Ping An Healthcare and Technology Company Limited to open at HK$12.15, and during the day (based on 14 day Average True Range), to move between HK$11.56 and HK$12.68, which gives a possible trading interval of +/-HK$0.556 (+/-4.59%) up or down from last closing price. If Ping An Healthcare and Technology Company Limited takes out the full calculated possible swing range there will be an estimated 9.17% 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$12.14 (0.17%) than the support at HK$12.00 (0.99%), 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 Ping An Healthcare and Technology Company Limited stock A Buy?
Ping An Healthcare and Technology Co 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.966 Hold/Accumulate Downgraded
Predicted Opening Price for Ping An Healthcare and Technology Company Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$12.15 ( 0.275%) | HK$12.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1833.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.65 | 4.40 % | |
| R2 | 12.46 | 2.82 % | ||
| R1 | 12.34 | 1.85 % | ||
| Current price: | 12.12 | |||
| Support | S1 | 11.96 | -1.30 % | |
| S2 | 11.84 | -2.27 % | ||
| S3 | 11.65 | -3.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.14 | 8.42 % | |
| R2 | 12.30 | 1.49 % | ||
| R1 | 12.14 | 0.165 % | ||
| Current price | 12.12 | |||
| Support | S1 | 12.00 | -0.99% | |
| S2 | 11.14 | -8.09% | ||
| S3 | 11.08 | -8.58% |
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