Medialink Group Ltd Stock Forecast

Red day on Monday for Medialink Group Ltd
(Updated on Jun 17, 2024)

2230.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 1.76%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Medialink Group Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.174. On a fall, the stock will find some support from the short-term average at HK$0.172. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Medialink Group Ltd stock

Medialink Group Ltd finds support from accumulated volume at HK$0.172 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0060 between high and low, or 3.59%. For the last week the stock has had daily average volatility of 0.719%.

Our recommended stop-loss: HK$0.163 (-5.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (2230.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Medialink Group Ltd to open at HK$0.171, and during the day (based on 14 day Average True Range), to move between HK$0.170 and HK$0.176, which gives a possible trading interval of +/-HK$0.0027 (+/-1.57%) up or down from last closing price. If Medialink Group Ltd takes out the full calculated possible swing range there will be an estimated 3.15% 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$0.174 (0.58%) than the support at HK$0.172 (0.58%), 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 Medialink Group Ltd stock A Buy?

Medialink Group Ltd 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Medialink Group Ltd of Tuesday, June 18, 2024

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