Nameson Holdings Limited Stock Forecast

Nameson Holdings Limited stock price ended at HK$0.770 on Friday, after losing 1.28%.
(Updated on Jun 28, 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$0.756 and HK$0.745. 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). 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 -2.53%. Further fall is indicated until a new bottom pivot has been found. Nameson Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

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.

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$0.0200 (2.63%) between high and low. For the last week, the stock has had daily average volatility of 3.79%.

Our recommended stop-loss: HK$0.742 (-3.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 35 days ago.)

Trading Expectations (1982.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Nameson Holdings Limited to open at HK$0.770, and during the day (based on 14 day Average True Range), to move between HK$0.742 and HK$0.798, which gives a possible trading interval of +/-HK$0.0280 (+/-3.63%) up or down from last closing price. If Nameson Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.27% 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$0.780 (1.30%) than the support at HK$0.750 (2.60%), 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?

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 Nameson Holdings Limited stock to perform well in the short-term.

Current score: 1.860 Buy Candidate Unchanged

Predicted Opening Price for Nameson Holdings Limited of Tuesday, July 2, 2024

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