Nameson Holdings Limited Stock Forecast

Nameson Holdings Limited stock price ended at HK$0.760 on Wednesday, after losing 0%.
(Updated on Jun 26, 2024)

1982.HK Signals & Forecast

The Nameson Holdings 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$0.744 and HK$0.744. A breakdown below any of these levels will issue sell signals. 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, May 27, 2024, and so far it has fallen -3.80%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Nameson Holdings Limited stock

Nameson Holdings Limited finds support from accumulated volume at HK$0.750 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved HK$0.0100 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 5.35%.

Our recommended stop-loss: HK$0.723 (-4.93%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 33 days ago.)

Trading Expectations (1982.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Nameson Holdings Limited to open at HK$0.763, and during the day (based on 14 day Average True Range), to move between HK$0.731 and HK$0.789, which gives a possible trading interval of +/-HK$0.0293 (+/-3.85%) up or down from last closing price. If Nameson Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.70% 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$0.770 (1.32%) than the support at HK$0.750 (1.32%), 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 Nameson Holdings Limited stock A Buy?

Nameson Holdings 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: -0.376 Hold/Accumulate Unchanged

Predicted Opening Price for Nameson Holdings Limited of Thursday, June 27, 2024

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