China Fordoo Holdings Limited Stock Forecast

China Fordoo Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on May 10, 2024)

2399.HK Signals & Forecast

The China Fordoo Holdings Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.322. On a fall, the stock will find some support from the long-term average at approximately HK$0.313. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -11.27%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for China Fordoo Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.295 and HK$0.275. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Fordoo Holdings Limited finds support just below today's level at HK$0.295. If this is broken, then the next support from accumulated volume will be at HK$0.275 and HK$0.270.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0150 between high and low, or 4.84%. For the last week the stock has had daily average volatility of 5.46%.

Our recommended stop-loss: HK$0.301 (-4.51%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (2399.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect China Fordoo Holdings Limited to open at HK$0.317, and during the day (based on 14 day Average True Range), to move between HK$0.293 and HK$0.337, which gives a possible trading interval of +/-HK$0.0219 (+/-6.95%) up or down from last closing price. If China Fordoo Holdings Limited takes out the full calculated possible swing range there will be an estimated 13.90% 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$0.295 (6.35%) than the resistance at HK$0.340 (7.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Fordoo Holdings Limited stock A Buy?

China Fordoo Holdings 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.878 Hold/Accumulate Upgraded

Predicted Opening Price for China Fordoo Holdings Limited of Monday, May 13, 2024

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