IBO Technology Company Limited Stock Forecast

Stronger technical forecast for IBO Technology Company Limited stock price after Thursday trading.
(Updated on May 02, 2024)

2708.HK Signals & Forecast

The IBO Technology Company Limited 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$0.0430 and HK$0.0609. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, March 25, 2024 and based on theory for this formation the price should fall by 0% to HK$0.0640 within 2 trading days since signal was issued (Friday, May 03, 2024).

Support, Risk & Stop-loss for IBO Technology Company Limited stock

IBO Technology Company Limited finds support from accumulated volume at HK$0.0630 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 51.24%

Our recommended stop-loss: HK$0.0616 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (2708.HK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect IBO Technology Company Limited to open at HK$0.0640, and during the day (based on 14 day Average True Range), to move between HK$0.0538 and HK$0.0742, which gives a possible trading interval of +/-HK$0.0102 (+/-15.91%) up or down from last closing price. If IBO Technology Company Limited takes out the full calculated possible swing range there will be an estimated 31.82% 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$0.0630 (1.56%) than the resistance at HK$0.0690 (7.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is IBO Technology Company Limited stock A Buy?

IBO Technology Company 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for IBO Technology Company Limited of Friday, May 3, 2024

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