MAH ETFS-S&PCOFEE/UT HKD Stock Forecast

MAH ETFS-S&PCOFEE/UT HKD stock price ended at HK$5.70 on Friday, after gaining 1.69%.
(Updated on Apr 19, 2024)

3097.HK Signals & Forecast

The MAH ETFS-S&PCOFEE/UT HKD stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$5.77. On a fall, the stock will find some support from the long-term average at approximately HK$5.55. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. MAH ETFS-S&PCOFEE/UT HKD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, April 05, 2024, and so far it has fallen -3.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for MAH ETFS-S&PCOFEE/UT HKD stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$4.94 and HK$4.91. 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, MAH ETFS-S&PCOFEE/UT HKD finds support just below today's level at HK$4.94. If this is broken, then the next support from accumulated volume will be at HK$4.91 and HK$4.90.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.1000 between high and low, or 1.75%. For the last week, the stock has had daily average volatility of 0.84%.

Our recommended stop-loss: HK$5.45 (-4.43%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (3097.HK) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect MAH ETFS-S&PCOFEE/UT HKD to open at HK$5.73, and during the day (based on 14 day Average True Range), to move between HK$5.62 and HK$5.78, which gives a possible trading interval of +/-HK$0.0823 (+/-1.44%) up or down from last closing price. If MAH ETFS-S&PCOFEE/UT HKD takes out the full calculated possible swing range there will be an estimated 2.89% 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$5.77 (1.14%) than the support at HK$4.94 (13.33%), 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 MAH ETFS-S&PCOFEE/UT HKD stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MAH ETFS-S&PCOFEE/UT HKD stock to perform well in the short-term.

Current score: 2.654 Buy Candidate Unchanged

Predicted Opening Price for MAH ETFS-S&PCOFEE/UT HKD of Monday, April 22, 2024

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