Rego Interactive Co., Ltd Stock Forecast
Rego Interactive Co., Ltd stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The Rego Interactive Co., Ltd stock price gained 3.85% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.390 to HK$0.405. During the last trading day the stock fluctuated 5.19% from a day low at HK$0.385 to a day high of HK$0.405. The price has risen in 6 of the last 10 days. Volume fell on the last day by -488 thousand shares and in total, 84 thousand shares were bought and sold for approximately HK$34.02 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Rego Interactive Co., Ltd stock with a 90% probability to be traded between HK$0.367 and HK$0.459 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.
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2422.HK Signals & Forecast
The Rego Interactive Co., Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.391 and HK$0.403. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 8.00%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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$0.395 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$0.0200 between high and low, or 5.19%. For the last week the stock has had daily average volatility of 7.65%.
Our recommended stop-loss: HK$0.391 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (2422.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Rego Interactive Co., Ltd to open at HK$0.398, and during the day (based on 14 day Average True Range), to move between HK$0.376 and HK$0.434, which gives a possible trading interval of +/-HK$0.0291 (+/-7.19%) 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 14.38% 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$0.410 (1.23%) than the support at HK$0.395 (2.47%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Rego Interactive Co., Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.332 Buy Candidate Upgraded
Predicted Opening Price for Rego Interactive Co., Ltd of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.398 ( 1.65%) | HK$0.405 |
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 | 0.418 | 3.29% |
| R2 | 0.411 | 1.41% |
| R1 | 0.406 | 0.240% |
| Price | 0.405 | |
| S1 | 0.391 | -3.53% |
| S2 | 0.386 | -4.70% |
| S3 | 0.378 | -6.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.470 | 16.05% |
| R2 | 0.420 | 3.70% |
| R1 | 0.410 | 1.23% |
| Price | 0.405 | |
| S1 | 0.395 | -2.47% |
| S2 | 0.390 | -3.70% |
| S3 | 0.375 | -7.41% |
FAQ
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