Beng Soon Machinery Holdings Ltd Stock Forecast

Red day on Friday for Beng Soon Machinery Holdings Ltd
(Updated on May 31, 2024)

1987.HK Signals & Forecast

The Beng Soon Machinery Holdings Ltd 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$0.246 and HK$0.236. 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 Thursday, May 30, 2024, and so far it has fallen 0%. 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Beng Soon Machinery Holdings Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.239 and HK$0.206. 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, Beng Soon Machinery Holdings Ltd finds support just below today's level at HK$0.239. If this is broken, then the next support from accumulated volume will be at HK$0.206 and HK$0.201.

In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.783%

Our recommended stop-loss: HK$0.245 (-3.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (1987.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Beng Soon Machinery Holdings Ltd to open at HK$0.255, and during the day (based on 14 day Average True Range), to move between HK$0.241 and HK$0.269, which gives a possible trading interval of +/-HK$0.0138 (+/-5.40%) up or down from last closing price. If Beng Soon Machinery Holdings Ltd takes out the full calculated possible swing range there will be an estimated 10.81% 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$0.260 (1.96%) than the support at HK$0.239 (6.27%), 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 Beng Soon Machinery Holdings Ltd 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 Beng Soon Machinery Holdings Ltd stock to perform well in the short-term.

Current score: 2.749 Buy Candidate Unchanged

Predicted Opening Price for Beng Soon Machinery Holdings Ltd of Monday, June 3, 2024

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