Abbisko Cayman Limited Stock Forecast
Green day on Thursday for Abbisko Cayman Limited
(Updated on Jun 20, 2024)
The Abbisko Cayman Limited stock price gained 0.319% on the last trading day (Thursday, 20th Jun 2024), rising from HK$3.13 to HK$3.14. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.88% from a day low at HK$3.12 to a day high of HK$3.21. The price has risen in 6 of the last 10 days and is up by 2.28% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately HK$5.34 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$3.11, a level that may pose a second chance to hit a runner. According to fan-theory HK$3.44 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
2256.HK Signals & Forecast
The Abbisko Cayman 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$3.05 and HK$3.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 7.90%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Abbisko Cayman Limited stock
Abbisko Cayman Limited finds support from accumulated volume at HK$3.13 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$0.0900 between high and low, or 2.88%. For the last week the stock has had daily average volatility of 3.62%.
Our recommended stop-loss: HK$2.98 (-5.05%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (2256.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Abbisko Cayman Limited to open at HK$3.16, and during the day (based on 14 day Average True Range), to move between HK$3.01 and HK$3.27, which gives a possible trading interval of +/-HK$0.132 (+/-4.22%) up or down from last closing price. If Abbisko Cayman Limited takes out the full calculated possible swing range there will be an estimated 8.44% 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$3.13 (0.32%) than the resistance at HK$3.17 (0.96%), 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 Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$3.16 ( 0.531%) | HK$3.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2256.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.25 | 3.40% |
| R2 | 3.21 | 2.30% |
| R1 | 3.19 | 1.63% |
| Price | 3.14 | |
| S1 | 3.12 | -0.564% |
| S2 | 3.10 | -1.24% |
| S3 | 3.07 | -2.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.30 | 5.10% |
| R2 | 3.25 | 3.50% |
| R1 | 3.17 | 0.96% |
| Price | 3.14 | |
| S1 | 3.13 | -0.318% |
| S2 | 3.05 | -2.87% |
| S3 | 2.91 | -7.32% |
FAQ
Click here for our free guide on how to buy Abbisko Cayman Limited Stock.
