Doumob Stock Forecast

Volatile ride for Doumob stock price on Friday moving between HK$0.0650 and HK$0.0720
(Updated on May 17, 2024)

1917.HK Signals & Forecast

The Doumob 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$0.0689 and HK$0.0667. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 28.57%. Further rise is indicated until a new top pivot has been found. Doumob 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Doumob stock

Doumob finds support from accumulated volume at HK$0.0700 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$0.0070 between high and low, or 10.77%. For the last week, the stock has had daily average volatility of 6.22%.

Our recommended stop-loss: HK$0.0692 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (1917.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Doumob to open at HK$0.0697, and during the day (based on 14 day Average True Range), to move between HK$0.0672 and HK$0.0768, which gives a possible trading interval of +/-HK$0.0048 (+/-6.62%) up or down from last closing price. If Doumob takes out the full calculated possible swing range there will be an estimated 13.23% 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$0.0700 (2.78%) than the resistance at HK$0.0740 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Doumob stock A Buy?

Doumob holds several positive signals and is within a strong 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 Sell to a Strong Buy candidate.

Current score: 5.674 Strong Buy Candidate Upgraded

Predicted Opening Price for Doumob of Monday, May 20, 2024

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