BE-BMEQHTUETF/UT HKD Stock Forecast

BE-BMEQHTUETF/UT HKD stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

3165.HK Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -1.70%. 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). BE-BMEQHTUETF/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. The BE-BMEQHTUETF/UT HKD stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$18.50 and HK$18.49. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for BE-BMEQHTUETF/UT HKD stock

BE-BMEQHTUETF/UT HKD finds support from accumulated volume at HK$18.48 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0865%.

Our recommended stop-loss: HK$17.83 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (3165.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect BE-BMEQHTUETF/UT HKD to open at HK$18.50, and during the day (based on 14 day Average True Range), to move between HK$18.43 and HK$18.57, which gives a possible trading interval of +/-HK$0.0745 (+/-0.40%) up or down from last closing price. If BE-BMEQHTUETF/UT HKD takes out the full calculated possible swing range there will be an estimated 0.80% 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$18.48 (0.11%) than the resistance at HK$18.55 (0.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BE-BMEQHTUETF/UT HKD stock A Buy?

BE-BMEQHTUETF/UT HKD 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. 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 Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 BE-BMEQHTUETF/UT HKD of Tuesday, July 2, 2024

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