LH Group Limited Stock Forecast

Evaluation of LH Group Limited stock downgraded after the last trading session.
(Updated on May 10, 2024)

1978.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.75%. 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 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. The LH Group Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.85. On a fall, the stock will find some support from the short-term average at HK$0.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for LH Group Limited stock

LH Group Limited finds support from accumulated volume at HK$0.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0100 between high and low, or 1.22%. For the last week the stock has had daily average volatility of 1.47%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1978.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect LH Group Limited to open at HK$0.83, and during the day (based on 14 day Average True Range), to move between HK$0.82 and HK$0.84, which gives a possible trading interval of +/-HK$0.0149 (+/-1.80%) up or down from last closing price. If LH Group Limited takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.84 (1.20%) than the support at HK$0.82 (1.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is LH Group Limited stock A Buy?

LH Group Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.267 Sell Candidate Downgraded

Predicted Opening Price for LH Group Limited of Monday, May 13, 2024

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