Cabbeen Fashion Limited Stock Forecast

On Friday, Cabbeen Fashion Limited stock price gained an impressive 5.13%
(Updated on May 03, 2024)

2030.HK Signals & Forecast

The Cabbeen Fashion Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.751 and HK$0.790. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 17.14%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Cabbeen Fashion Limited stock

Cabbeen Fashion Limited finds support from accumulated volume at HK$0.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0400 between high and low, or 5.13%. For the last week the stock has had daily average volatility of 3.24%.

Our recommended stop-loss: HK$0.792 (-3.40%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (2030.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Cabbeen Fashion Limited to open at HK$0.81, and during the day (based on 14 day Average True Range), to move between HK$0.792 and HK$0.85, which gives a possible trading interval of +/-HK$0.0278 (+/-3.38%) up or down from last closing price. If Cabbeen Fashion Limited takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.80 (2.44%) than the resistance at HK$0.94 (14.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cabbeen Fashion Limited stock A Buy?

Cabbeen Fashion 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Cabbeen Fashion Limited of Monday, May 6, 2024

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