Abbisko Cayman Limited Stock Forecast

Abbisko Cayman Limited stock price up 0.329% on Tuesday
(Updated on Jun 18, 2024)

2256.HK Signals & Forecast

There are mixed signals in the stock today. The Abbisko Cayman Limited 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$3.13. On a fall, the stock will find some support from the short-term average at HK$2.99. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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 Abbisko Cayman Limited stock

Abbisko Cayman Limited finds support from accumulated volume at HK$3.04 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$0.1000 between high and low, or 3.37%. For the last week the stock has had daily average volatility of 3.25%.

Our recommended stop-loss: HK$2.91 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (2256.HK) For The Upcoming Trading Day Of Wednesday 19th

For the upcoming trading day on Wednesday, 19th we expect Abbisko Cayman Limited to open at HK$3.03, and during the day (based on 14 day Average True Range), to move between HK$2.92 and HK$3.18, which gives a possible trading interval of +/-HK$0.131 (+/-4.29%) up or down from last closing price. If Abbisko Cayman Limited takes out the full calculated possible swing range there will be an estimated 8.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$3.04 (0.33%) than the resistance at HK$3.17 (3.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Abbisko Cayman Limited stock A Buy?

Abbisko Cayman Limited 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 Abbisko Cayman Limited of Wednesday, June 19, 2024

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