TOM Group Limited Stock Forecast

Evaluation of TOM Group Limited stock downgraded after the last trading session.
(Updated on May 03, 2024)

2383.HK Signals & Forecast

There are mixed signals in the stock today. The TOM Group 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$0.561. On a fall, the stock will find some support from the short-term average at HK$0.486. 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 Thursday, May 02, 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 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 TOM Group Limited stock

TOM Group Limited finds support from accumulated volume at HK$0.490 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.05%

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

Trading Expectations (2383.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect TOM Group Limited to open at HK$0.500, and during the day (based on 14 day Average True Range), to move between HK$0.467 and HK$0.533, which gives a possible trading interval of +/-HK$0.0330 (+/-6.59%) up or down from last closing price. If TOM Group Limited takes out the full calculated possible swing range there will be an estimated 13.18% 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$0.490 (2.00%) than the resistance at HK$0.530 (6.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is TOM Group Limited stock A Buy?

TOM Group Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.543 Sell Candidate Downgraded

Predicted Opening Price for TOM Group Limited of Monday, May 6, 2024

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