Bonny International Holding Limited Stock Forecast

Stronger technical forecast for Bonny International Holding Limited stock price after Friday trading.
(Updated on May 10, 2024)

1906.HK Signals & Forecast

The Bonny International Holding Limited 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$0.404 and HK$0.396. 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). Bonny International Holding Limited 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. Higher liquidity also reduces the general risk. 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, May 02, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Bonny International Holding Limited stock

Bonny International Holding Limited finds support from accumulated volume at HK$0.405 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0100 between high and low, or 2.50%. For the last week, the stock has had daily average volatility of 1.76%.

Our recommended stop-loss: HK$0.393 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (1906.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Bonny International Holding Limited to open at HK$0.407, and during the day (based on 14 day Average True Range), to move between HK$0.395 and HK$0.425, which gives a possible trading interval of +/-HK$0.0148 (+/-3.61%) up or down from last closing price. If Bonny International Holding Limited takes out the full calculated possible swing range there will be an estimated 7.22% 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$0.405 (1.22%) than the resistance at HK$0.415 (1.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bonny International Holding Limited stock A Buy?

Bonny International Holding Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.249 Strong Buy Candidate Upgraded

Predicted Opening Price for Bonny International Holding Limited of Monday, May 13, 2024

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