Contel Technology Co Ltd Stock Forecast

High volatility in Contel Technology Co Ltd stock price on Thursday which ended trading at HK$0.107
(Updated on Jun 27, 2024)

1912.HK Signals & Forecast

The Contel Technology Co 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$0.106 and HK$0.0678. 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). 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, June 24, 2024, and so far it has fallen -6.14%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Contel Technology Co Ltd stock

Contel Technology Co Ltd finds support from accumulated volume at HK$0.105 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0110 between high and low, or 11.46%. For the last week, the stock has had daily average volatility of 16.90%.

Our recommended stop-loss: HK$0.102 (-4.56%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (1912.HK) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Contel Technology Co Ltd to open at HK$0.103, and during the day (based on 14 day Average True Range), to move between HK$0.0930 and HK$0.121, which gives a possible trading interval of +/-HK$0.0140 (+/-13.07%) up or down from last closing price. If Contel Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 26.13% 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$0.105 (1.87%) than the resistance at HK$0.110 (2.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Contel Technology Co 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 Contel Technology Co Ltd stock to perform well in the short-term.

Current score: 2.685 Buy Candidate Unchanged

Predicted Opening Price for Contel Technology Co Ltd of Friday, June 28, 2024

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