BBMG Corporation Stock Forecast

Red day on Friday for BBMG Corporation stock after losing 1.54%
(Updated on May 03, 2024)

2009.HK Signals & Forecast

The BBMG Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.644. On a fall, the stock will find some support from the long-term average at approximately HK$0.631. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 29, 2024, and so far it has fallen -5.88%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, March 12, 2024 and based on theory for this formation the price should fall by -2.46% to HK$0.624 within 21 trading days since signal was issued (Monday, May 06, 2024).

Support, Risk & Stop-loss for BBMG Corporation stock

BBMG Corporation finds support from accumulated volume at HK$0.630 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0300 between high and low, or 4.76%. For the last week, the stock has had daily average volatility of 4.42%.

Our recommended stop-loss: HK$0.609 (-4.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (2009.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect BBMG Corporation to open at HK$0.643, and during the day (based on 14 day Average True Range), to move between HK$0.617 and HK$0.663, which gives a possible trading interval of +/-HK$0.0232 (+/-3.62%) up or down from last closing price. If BBMG Corporation takes out the full calculated possible swing range there will be an estimated 7.24% 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$0.650 (1.56%) than the support at HK$0.630 (1.56%), 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 BBMG Corporation stock A Buy?

BBMG Corporation 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: -0.178 Hold/Accumulate Unchanged

Predicted Opening Price for BBMG Corporation of Monday, May 6, 2024

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