China Ludao Technology Company Limited Stock Forecast

A very red day for China Ludao Technology Company Limited stock price after a -6.38% fall in the Friday trading session
(Updated on May 10, 2024)

2023.HK Signals & Forecast

There are few to no technical positive signals at the moment. The China Ludao Technology Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.96 and HK$1.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -25.42%. 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). China Ludao Technology Company 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 China Ludao Technology Company Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0800 between high and low, or 9.41%. For the last week, the stock has had daily average volatility of 3.16%.

China Ludao Technology Company Limited is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (2023.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect China Ludao Technology Company Limited to open at HK$0.89, and during the day (based on 14 day Average True Range), to move between HK$0.84 and HK$0.92, which gives a possible trading interval of +/-HK$0.0439 (+/-4.99%) up or down from last closing price. If China Ludao Technology Company Limited takes out the full calculated possible swing range there will be an estimated 9.97% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.95, some HK$0.0700 (7.95%) from the current price of HK$0.88, our system finds the risk reward not very attractive.

Is China Ludao Technology Company Limited stock A Buy?

The China Ludao Technology Company Limited stock holds several negative signals and despite the positive trend, we believe China Ludao Technology Company Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.583 Sell Candidate Downgraded

Predicted Opening Price for China Ludao Technology Company Limited of Monday, May 13, 2024

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