Jutal Offshore Oil Services Limited Stock Forecast

Volatile ride for Jutal Offshore Oil Services Limited stock price on Tuesday moving between HK$0.690 and HK$0.770
(Updated on Apr 30, 2024)

3303.HK Signals & Forecast

The Jutal Offshore Oil Services Limited 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$0.657 and HK$0.559. 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 Monday, April 29, 2024, and so far it has fallen -5.41%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Jutal Offshore Oil Services Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.620 and HK$0.540. 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, Jutal Offshore Oil Services Limited finds support just below today's level at HK$0.620. If this is broken, then the next support from accumulated volume will be at HK$0.540 and HK$0.530.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0800 between high and low, or 11.59%. For the last week, the stock has had daily average volatility of 9.63%.

Our recommended stop-loss: HK$0.662 (-5.38%) (This stock has high daily movements and this gives high risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (3303.HK) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Jutal Offshore Oil Services Limited to open at HK$0.720, and during the day (based on 14 day Average True Range), to move between HK$0.660 and HK$0.740, which gives a possible trading interval of +/-HK$0.0400 (+/-5.71%) up or down from last closing price. If Jutal Offshore Oil Services Limited takes out the full calculated possible swing range there will be an estimated 11.42% 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$0.740 (5.71%) than the support at HK$0.620 (11.43%), 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 Jutal Offshore Oil Services Limited 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 Jutal Offshore Oil Services Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.525 Buy Candidate Upgraded

Predicted Opening Price for Jutal Offshore Oil Services Limited of Thursday, May 2, 2024

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