Dalian Port (PDA) Company Limited Stock Forecast

Dalian Port (PDA) Company Limited stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)

2880.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.64%. 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 Dalian Port (PDA) Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.636. On a fall, the stock will find some support from the short-term average at HK$0.614. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 also not.

Support, Risk & Stop-loss for Dalian Port (PDA) Company Limited stock

Dalian Port (PDA) Company Limited finds support from accumulated volume at HK$0.610 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$0.0300 between high and low, or 5.00%. For the last week the stock has had daily average volatility of 2.66%

Our recommended stop-loss: HK$0.586 (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (2880.HK) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Dalian Port (PDA) Company Limited to open at HK$0.617, and during the day (based on 14 day Average True Range), to move between HK$0.605 and HK$0.635, which gives a possible trading interval of +/-HK$0.0155 (+/-2.50%) up or down from last closing price. If Dalian Port (PDA) Company Limited takes out the full calculated possible swing range there will be an estimated 4.99% 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$0.630 (1.61%) than the support at HK$0.610 (1.61%), 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 Dalian Port (PDA) Company Limited stock A Buy?

Dalian Port (PDA) 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: 0.313 Hold/Accumulate Upgraded

Predicted Opening Price for Dalian Port (PDA) Company Limited of Wednesday, July 3, 2024

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