Tsit Wing International Holdings Limited Stock Forecast

Weaker technical forecast for Tsit Wing International Holdings Limited as stock downgraded to Strong Sell Candidate.
(Updated on Jun 27, 2024)

2119.HK Signals & Forecast

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. The Tsit Wing International Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.614 and HK$0.605. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -7.81%. Further fall is indicated until a new bottom pivot has been found. 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 1.69%. For the last week the stock has had daily average volatility of 1.36%.

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

Trading Expectations (2119.HK) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Tsit Wing International Holdings Limited to open at HK$0.593, and during the day (based on 14 day Average True Range), to move between HK$0.569 and HK$0.611, which gives a possible trading interval of +/-HK$0.0206 (+/-3.50%) 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 7.00% 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$0.610 (3.39%) than the support at HK$0.560 (5.08%), 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?

The Tsit Wing International Holdings Limited stock holds several negative signals and despite the positive trend, we believe Tsit Wing International Holdings 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 Buy to a Strong Sell candidate.

Current score: -5.563 Strong Sell Candidate Downgraded

Predicted Opening Price for Tsit Wing International Holdings Limited of Friday, June 28, 2024

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