Regina Miracle International (Holdings) Stock Forecast

Regina Miracle International (Holdings) stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 24, 2024)

2199.HK Signals & Forecast

The Regina Miracle International (Holdings) 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$2.66. On a fall, the stock will find some support from the long-term average at approximately HK$2.40. 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 Wednesday, May 22, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Regina Miracle International (Holdings) stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$2.30 and HK$2.29. 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, Regina Miracle International (Holdings) finds support just below today's level at HK$2.30. If this is broken, then the next support from accumulated volume will be at HK$2.29 and HK$2.25.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.22%

Our recommended stop-loss: HK$2.42 (-5.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (2199.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Regina Miracle International (Holdings) Limited to open at HK$2.57, and during the day (based on 14 day Average True Range), to move between HK$2.47 and HK$2.67, which gives a possible trading interval of +/-HK$0.103 (+/-3.99%) up or down from last closing price. If Regina Miracle International (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 7.98% 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$2.74 (6.61%) than the support at HK$2.30 (10.51%), 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 Regina Miracle International (Holdings) Limited stock A Buy?

Regina Miracle International (Holdings) 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. 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 Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Regina Miracle International (Holdings) Limited of Monday, May 27, 2024

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