China Lesso Group Holdings Limited Stock Forecast

Volatile ride for China Lesso Group Holdings Limited stock price on Thursday moving between HK$3.26 and HK$3.64
(Updated on May 02, 2024)

2128.HK Signals & Forecast

Mostly positive signals in the chart today. The China Lesso Group 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$3.26 and HK$3.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 21.55%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for China Lesso Group Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$3.35 and HK$3.30. 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, China Lesso Group Holdings Limited finds support just below today's level at HK$3.35. If this is broken, then the next support from accumulated volume will be at HK$3.30 and HK$3.01.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.380 between high and low, or 11.66%. For the last week, the stock has had daily average volatility of 6.06%.

Our recommended stop-loss: HK$3.47 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (2128.HK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect China Lesso Group Holdings Limited to open at HK$3.50, and during the day (based on 14 day Average True Range), to move between HK$3.46 and HK$3.76, which gives a possible trading interval of +/-HK$0.152 (+/-4.22%) up or down from last closing price. If China Lesso Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.43% 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$3.69 (2.22%) than the support at HK$3.35 (7.20%), 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 China Lesso Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.902 Buy Candidate Upgraded

Predicted Opening Price for China Lesso Group Holdings Limited of Friday, May 3, 2024

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