Future Bright Mining Holdings Limited Stock Forecast

Volatile ride for Future Bright Mining Holdings Limited stock price on Wednesday moving between HK$0.172 and HK$0.192
(Updated on Jun 26, 2024)

2212.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Future Bright Mining Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.198 and HK$0.211. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Future Bright Mining Holdings Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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$0.0200 between high and low, or 11.63%. For the last week the stock has had daily average volatility of 3.26%.

Future Bright Mining Holdings Limited is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (2212.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Future Bright Mining Holdings Limited to open at HK$0.185, and during the day (based on 14 day Average True Range), to move between HK$0.184 and HK$0.200, which gives a possible trading interval of +/-HK$0.0079 (+/-4.13%) up or down from last closing price. If Future Bright Mining Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.26% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.198, some HK$0.0060 (3.13%) from the current price of HK$0.192, our system finds the risk reward not very attractive.

Is Future Bright Mining Holdings Limited stock A Buy?

Future Bright Mining Holdings Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.503 Sell Candidate Unchanged

Predicted Opening Price for Future Bright Mining Holdings Limited of Thursday, June 27, 2024

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