China Fordoo Holdings Limited Stock Forecast

Stronger technical forecast for China Fordoo Holdings Limited stock price after Wednesday trading.
(Updated on Jun 05, 2024)

2399.HK Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Fordoo Holdings Limited 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$0.316 and HK$0.327. A break-up above any of these levels will issue buy signals. 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. 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$0.0100 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 5.89%.

Our recommended stop-loss: HK$0.296 (-6.12%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 59 days ago.)

Trading Expectations (2399.HK) For The Upcoming Trading Day Of Thursday 6th

For the upcoming trading day on Thursday, 6th we expect China Fordoo Holdings Limited to open at HK$0.315, and during the day (based on 14 day Average True Range), to move between HK$0.297 and HK$0.333, which gives a possible trading interval of +/-HK$0.0175 (+/-5.56%) 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 11.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.325 (3.17%) than the support at HK$0.295 (6.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is China Fordoo Holdings Limited stock A Buy?

China Fordoo Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.183 Hold/Accumulate Upgraded

Predicted Opening Price for China Fordoo Holdings Limited of Thursday, June 6, 2024

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