Tsit Wing International Holdings Limited Stock Forecast

A very strong day for Tsit Wing International Holdings Limited stock price on Monday
(Updated on Jun 17, 2024)

2119.HK Signals & Forecast

The Tsit Wing International Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.603 and HK$0.593. A breakdown below any of these levels will issue sell signals. Tsit Wing International Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, May 16, 2024, and so far it has fallen -1.56%. 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).

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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0300 (5.00%) between high and low. For the last week, the stock has had daily average volatility of 3.75%.

Our recommended stop-loss: HK$0.600 (-4.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)

Trading Expectations (2119.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Tsit Wing International Holdings Limited to open at HK$0.620, and during the day (based on 14 day Average True Range), to move between HK$0.606 and HK$0.654, which gives a possible trading interval of +/-HK$0.0240 (+/-3.81%) 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 7.61% 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$0.640 (1.59%) than the support at HK$0.560 (11.11%), 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, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tsit Wing International Holdings Limited stock to perform well in the short-term.

Current score: 2.616 Buy Candidate Unchanged

Predicted Opening Price for Tsit Wing International Holdings Limited of Tuesday, June 18, 2024

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