Rego Interactive Co., Ltd Stock Forecast
Rego Interactive Co., Ltd stock upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The Rego Interactive Co., Ltd stock price fell by -1.27% on the last day (Wednesday, 26th Jun 2024) from HK$0.395 to HK$0.390. During the last trading day the stock fluctuated 3.85% from a day low at HK$0.390 to a day high of HK$0.405. The price has risen in 6 of the last 10 days but is still down by -2.5% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 60 thousand shares were bought and sold for approximately HK$23.40 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$0.374 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Rego Interactive Co., Ltd stock with a 90% probability to be traded between HK$0.369 and HK$0.462 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
2422.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 4.00%. Further rise is indicated until a new top pivot has been found. 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 Rego Interactive Co., Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.405 and HK$0.404. A break-up above any of these levels will issue buy signals. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Rego Interactive Co., Ltd stock
Rego Interactive Co., Ltd finds support from accumulated volume at HK$0.375 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, 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 3.85%. For the last week the stock has had daily average volatility of 16.64%.
Our recommended stop-loss: HK$0.371 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (2422.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Rego Interactive Co., Ltd to open at HK$0.395, and during the day (based on 14 day Average True Range), to move between HK$0.359 and HK$0.421, which gives a possible trading interval of +/-HK$0.0313 (+/-8.04%) up or down from last closing price. If Rego Interactive Co., Ltd takes out the full calculated possible swing range there will be an estimated 16.08% 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$0.395 (1.28%) than the support at HK$0.375 (3.85%), 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 Rego Interactive Co., Ltd stock A Buy?
Rego Interactive Co., Ltd 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: -0.584 Hold/Accumulate Upgraded
Predicted Opening Price for Rego Interactive Co., Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.395 ( 1.28%) | HK$0.390 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2422.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.410 | 5.13% |
| R2 | 0.404 | 3.66% |
| R1 | 0.401 | 2.75% |
| Price | 0.390 | |
| S1 | 0.389 | -0.187% |
| S2 | 0.386 | -1.09% |
| S3 | 0.380 | -2.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.470 | 20.51% |
| R2 | 0.400 | 2.56% |
| R1 | 0.395 | 1.28% |
| Price | 0.390 | |
| S1 | 0.375 | -3.85% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Rego Interactive Co., Ltd Stock.
