Chow Tai Fook Jewellery Group Limited Stock Forecast

Chow Tai Fook Jewellery Group Limited stock price ended at HK$11.26 on Monday, after gaining 3.49%.
(Updated on May 20, 2024)

1929.HK Signals & Forecast

The Chow Tai Fook Jewellery Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$10.74 and HK$10.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Chow Tai Fook Jewellery Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$10.66 and HK$10.46. 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, Chow Tai Fook Jewellery Group Limited finds support just below today's level at HK$10.66. If this is broken, then the next support from accumulated volume will be at HK$10.46 and HK$10.30.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.420 (3.84%) between high and low. For the last week, the stock has had daily average volatility of 3.01%.

Our recommended stop-loss: HK$10.83 (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 43 days ago.)

Trading Expectations (1929.HK) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Chow Tai Fook Jewellery Group Limited to open at HK$11.19, and during the day (based on 14 day Average True Range), to move between HK$10.89 and HK$11.63, which gives a possible trading interval of +/-HK$0.370 (+/-3.29%) up or down from last closing price. If Chow Tai Fook Jewellery Group Limited takes out the full calculated possible swing range there will be an estimated 6.58% 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$10.66 (5.33%) than the resistance at HK$12.06 (7.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Chow Tai Fook Jewellery Group Limited stock A Buy?

Chow Tai Fook Jewellery Group 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Chow Tai Fook Jewellery Group Limited of Tuesday, May 21, 2024

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