AM Group Holdings Ltd Stock Forecast

Strong day for AM Group Holdings Ltd stock price on Friday rising 8.14% to HK$0.0930
(Updated on May 10, 2024)

1849.HK Signals & Forecast

The AM Group Holdings 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$0.0910 and HK$0.0876. 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 -1.06%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for AM Group Holdings Ltd stock

AM Group Holdings Ltd finds support from accumulated volume at HK$0.0900 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0070 between high and low, or 8.14%. For the last week the stock has had daily average volatility of 4.96%.

Our recommended stop-loss: HK$0.0897 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (1849.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect AM Group Holdings Ltd to open at HK$0.0907, and during the day (based on 14 day Average True Range), to move between HK$0.0867 and HK$0.0993, which gives a possible trading interval of +/-HK$0.0063 (+/-6.73%) up or down from last closing price. If AM Group Holdings Ltd takes out the full calculated possible swing range there will be an estimated 13.46% 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$0.0940 (1.08%) than the support at HK$0.0900 (3.23%), 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 AM Group Holdings Ltd 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 AM Group Holdings Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.501 Buy Candidate Upgraded

Predicted Opening Price for AM Group Holdings Ltd of Monday, May 13, 2024

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