Yh Entertainment Group Stock Forecast
Green day on Friday for Yh Entertainment Group stock after gaining 1.69%
(Updated on Jun 28, 2024)
The Yh Entertainment Group stock price gained 1.69% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.590 to HK$0.600. During the last trading day the stock fluctuated 5.08% from a day low at HK$0.590 to a day high of HK$0.620. The price has fallen in 6 of the last 10 days and is down by -9.09% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 192 thousand shares were bought and sold for approximately HK$115.20 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.588 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.83% during the next 3 months and, with a 90% probability hold a price between HK$0.542 and HK$0.617 at the end of this 3-month period.
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2306.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 1.69%. Further rise is indicated until a new top pivot has been found. Yh Entertainment Group has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Yh Entertainment Group 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$0.623 and HK$0.660. 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).
Support, Risk & Stop-loss for Yh Entertainment Group stock
Yh Entertainment Group finds support from accumulated volume at HK$0.590 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0300 between high and low, or 5.08%. For the last week, the stock has had daily average volatility of 5.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2306.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Yh Entertainment Group to open at HK$0.603, and during the day (based on 14 day Average True Range), to move between HK$0.552 and HK$0.648, which gives a possible trading interval of +/-HK$0.0485 (+/-8.08%) up or down from last closing price. If Yh Entertainment Group takes out the full calculated possible swing range there will be an estimated 16.16% 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$0.590 (1.67%) than the resistance at HK$0.640 (6.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yh Entertainment Group stock A Buy?
Yh Entertainment Group 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: -1.712 Sell Candidate Unchanged
Predicted Opening Price for Yh Entertainment Group of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
HK$0.603 ( 0.556%) | HK$0.600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2306.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.633 | 5.56% |
R2 | 0.622 | 3.65% |
R1 | 0.615 | 2.47% |
Price | 0.600 | |
S1 | 0.592 | -1.35% |
S2 | 0.585 | -2.53% |
S3 | 0.573 | -4.44% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.710 | 18.33% |
R2 | 0.690 | 15.00% |
R1 | 0.640 | 6.67% |
Price | 0.600 | |
S1 | 0.590 | -1.67% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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