MAH ETFS-S&PCOFEE/UT HKD Stock Forecast
Evaluation of MAH ETFS-S&PCOFEE/UT HKD stock downgraded after the last trading session.
(Updated on May 02, 2024)
The MAH ETFS-S&PCOFEE/UT HKD stock price fell by -3.80% on the last day (Thursday, 2nd May 2024) from HK$5.67 to HK$5.45. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.460% from a day low at HK$5.44 to a day high of HK$5.46. The price has fallen in 6 of the last 10 days and is down by -6.03% for this period. Volume has increased on the last day by 12 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 thousand shares were bought and sold for approximately HK$76.30 thousand.
Given the current short-term trend, the stock is expected to rise 14.58% during the next 3 months and, with a 90% probability hold a price between HK$6.24 and HK$7.03 at the end of this 3-month period.
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3097.HK Signals & Forecast
There are few to no technical positive signals at the moment. The MAH ETFS-S&PCOFEE/UT HKD 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$5.66 and HK$5.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -7.47%. 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). MAH ETFS-S&PCOFEE/UT HKD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for MAH ETFS-S&PCOFEE/UT HKD stock
MAH ETFS-S&PCOFEE/UT HKD finds support from accumulated volume at HK$5.21 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0250 between high and low, or 0.460%. For the last week the stock has had daily average volatility of 0.302%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3097.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect MAH ETFS-S&PCOFEE/UT HKD to open at HK$5.45, and during the day (based on 14 day Average True Range), to move between HK$5.36 and HK$5.54, which gives a possible trading interval of +/-HK$0.0908 (+/-1.67%) 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 3.33% 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$5.21 (4.50%) than the resistance at HK$5.70 (4.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MAH ETFS-S&PCOFEE/UT HKD stock A Buy?
The MAH ETFS-S&PCOFEE/UT HKD stock holds several negative signals and despite the positive trend, we believe MAH ETFS-S&PCOFEE/UT HKD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.226 Sell Candidate Downgraded
Predicted Opening Price for MAH ETFS-S&PCOFEE/UT HKD of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$5.45 ( 0.0306%) | HK$5.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3097.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.47 | 0.428 % | |
| R2 | 5.46 | 0.253 % | ||
| R1 | 5.46 | 0.145 % | ||
| Current price: | 5.45 | |||
| Support | S1 | 5.44 | -0.206 % | |
| S2 | 5.43 | -0.314 % | ||
| S3 | 5.42 | -0.489 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.86 | 7.43 % | |
| R2 | 5.80 | 6.42 % | ||
| R1 | 5.70 | 4.59 % | ||
| Current price | 5.45 | |||
| Support | S1 | 5.21 | -4.50% | |
| S2 | 4.94 | -9.36% | ||
| S3 | 4.91 | -9.94% |
FAQ
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