Tsit Wing International Holdings Limited Stock Forecast

Red day on Friday for Tsit Wing International Holdings Limited stock after losing 4.69%
(Updated on May 17, 2024)

2119.HK Signals & Forecast

The Tsit Wing International Holdings Limited 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$0.614. On a fall, the stock will find some support from the long-term average at approximately HK$0.560. 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. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 15.09%. Further rise is indicated until a new top pivot has been found. 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. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Tsit Wing International Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.560 and HK$0.550. 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, Tsit Wing International Holdings Limited finds support just below today's level at HK$0.560. If this is broken, then the next support from accumulated volume will be at HK$0.550 and HK$0.540.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0100 between high and low, or 1.64%. For the last week the stock has had daily average volatility of 3.33%.

Our recommended stop-loss: HK$0.588 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (2119.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Tsit Wing International Holdings Limited to open at HK$0.613, and during the day (based on 14 day Average True Range), to move between HK$0.586 and HK$0.634, which gives a possible trading interval of +/-HK$0.0244 (+/-4.01%) up or down from last closing price. If Tsit Wing International Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.01% 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$0.620 (1.64%) than the support at HK$0.560 (8.20%), 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 Tsit Wing International Holdings Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 2.575 Buy Candidate Unchanged

Predicted Opening Price for Tsit Wing International Holdings Limited of Monday, May 20, 2024

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