Natural Food International Holding Ltd Stock Forecast

Red day on Thursday for Natural Food International Holding Ltd stock after losing 0%
(Updated on May 23, 2024)

1837.HK Signals & Forecast

The Natural Food International Holding Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.611. On a fall, the stock will find some support from the long-term average at approximately HK$0.557. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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, May 13, 2024, and so far it has fallen -6.25%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Natural Food International Holding Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.520 and HK$0.510. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Natural Food International Holding Ltd finds support just below today's level at HK$0.520. If this is broken, then the next support from accumulated volume will be at HK$0.510 and HK$0.500.

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$0.0100 between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 2.67%.

Our recommended stop-loss: HK$0.569 (-5.16%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (1837.HK) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Natural Food International Holding Limited to open at HK$0.603, and during the day (based on 14 day Average True Range), to move between HK$0.578 and HK$0.622, which gives a possible trading interval of +/-HK$0.0224 (+/-3.74%) up or down from last closing price. If Natural Food International Holding Limited takes out the full calculated possible swing range there will be an estimated 7.48% 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$0.620 (3.33%) than the support at HK$0.520 (13.33%), 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 Natural Food International Holding Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Natural Food International Holding Ltd stock to perform well in the short-term.

Current score: 1.992 Buy Candidate Unchanged

Predicted Opening Price for Natural Food International Holding Limited of Friday, May 24, 2024

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