Fulu Holdings Limited Stock Forecast

High volatility in Fulu Holdings Limited stock price on Friday which ended trading at HK$2.16
(Updated on May 03, 2024)

2101.HK Signals & Forecast

The Fulu Holdings 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$1.99 and HK$2.11. 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 Tuesday, April 30, 2024, and so far it has fallen -9.24%. Further fall is indicated until a new bottom pivot has been found. 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 also not.

Support, Risk & Stop-loss for Fulu Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.87 and HK$1.84. 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, Fulu Holdings Limited finds support just below today's level at HK$1.87. If this is broken, then the next support from accumulated volume will be at HK$1.84 and HK$1.82.

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$0.310 between high and low, or 15.12%. For the last week the stock has had daily average volatility of 15.81%.

Our recommended stop-loss: HK$2.05 (-5.32%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (2101.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Fulu Holdings Limited to open at HK$2.19, and during the day (based on 14 day Average True Range), to move between HK$1.96 and HK$2.36, which gives a possible trading interval of +/-HK$0.197 (+/-9.14%) up or down from last closing price. If Fulu Holdings Limited takes out the full calculated possible swing range there will be an estimated 18.28% 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$2.17 (0.46%) than the support at HK$1.87 (13.43%), 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 Fulu Holdings Limited stock A Buy?

Fulu Holdings 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: 0.522 Hold/Accumulate Upgraded

Predicted Opening Price for Fulu Holdings Limited of Monday, May 6, 2024

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