China Boton Group Company Limited Stock Forecast

Stronger technical forecast for China Boton Group Company Limited stock price after Thursday trading.
(Updated on Jun 20, 2024)

3318.HK Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). China Boton Group Company Limited 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Boton Group 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$2.25. On a fall, the stock will find some support from the short-term average at HK$2.12. 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. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -20.37%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for China Boton Group Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.93 and HK$1.81. 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, China Boton Group Company Limited finds support just below today's level at HK$1.93. If this is broken, then the next support from accumulated volume will be at HK$1.81 and HK$1.68.

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$0.130 between high and low, or 6.31%. For the last week, the stock has had daily average volatility of 4.92%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3318.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect China Boton Group Company Limited to open at HK$2.13, and during the day (based on 14 day Average True Range), to move between HK$2.04 and HK$2.26, which gives a possible trading interval of +/-HK$0.106 (+/-4.94%) up or down from last closing price. If China Boton Group Company Limited takes out the full calculated possible swing range there will be an estimated 9.88% 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$1.93 (10.23%) than the resistance at HK$2.51 (16.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Boton Group Company Limited stock A Buy?

China Boton Group Company Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -1.111 Sell Candidate Upgraded

Predicted Opening Price for China Boton Group Company Limited of Friday, June 21, 2024

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