Snack Empire Holdings Ltd Stock Forecast

Big movements in Snack Empire Holdings Ltd stock price on Friday moving 36.49% between high and low
(Updated on May 10, 2024)

1843.HK Signals & Forecast

The Snack Empire Holdings 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$0.157 and HK$0.165. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 37.67%. Further rise is indicated until a new top pivot has been found. Snack Empire Holdings 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Snack Empire Holdings Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.174 and HK$0.170. 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, Snack Empire Holdings Ltd finds support just below today's level at HK$0.174. If this is broken, then the next support from accumulated volume will be at HK$0.170 and HK$0.164.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0540 between high and low, or 36.49%. For the last week, the stock has had daily average volatility of 8.29%.

Our recommended stop-loss: HK$0.194 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (1843.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Snack Empire Holdings Ltd to open at HK$0.184, and during the day (based on 14 day Average True Range), to move between HK$0.192 and HK$0.210, which gives a possible trading interval of +/-HK$0.0093 (+/-4.62%) up or down from last closing price. If Snack Empire Holdings Ltd takes out the full calculated possible swing range there will be an estimated 9.25% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.174, some HK$0.0270 (13.43%) from the current price of HK$0.201, our system finds the risk reward attractive.

Is Snack Empire Holdings Ltd stock A Buy?

Snack Empire Holdings 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Snack Empire Holdings Ltd of Monday, May 13, 2024

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