Heng Hup Holdings Limited Stock Forecast

Heng Hup Holdings Limited stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

1891.HK Signals & Forecast

The Heng Hup Holdings Limited 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$0.123. On a fall, the stock will find some support from the long-term average at approximately HK$0.120. 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). 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 Thursday, March 21, 2024, and so far it has fallen -15.86%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Heng Hup Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.114 and HK$0.106. 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, Heng Hup Holdings Limited finds support just below today's level at HK$0.114. If this is broken, then the next support from accumulated volume will be at HK$0.106 and HK$0.101.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.62%.

Our recommended stop-loss: HK$0.115 (-6.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 36 days ago.)

Trading Expectations (1891.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Heng Hup Holdings Limited to open at HK$0.122, and during the day (based on 14 day Average True Range), to move between HK$0.117 and HK$0.127, which gives a possible trading interval of +/-HK$0.0048 (+/-3.96%) up or down from last closing price. If Heng Hup Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.114 (6.56%) than the resistance at HK$0.132 (8.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Heng Hup Holdings Limited stock A Buy?

Heng Hup Holdings Limited 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: -0.275 Hold/Accumulate Downgraded

Predicted Opening Price for Heng Hup Holdings Limited of Monday, May 20, 2024

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