Anton Oilfield Services Group Stock Forecast

Anton Oilfield Services Group stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

3337.HK Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -3.37%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Anton Oilfield Services Group 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$0.429 and HK$0.424. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Anton Oilfield Services Group stock

Anton Oilfield Services Group finds support from accumulated volume at HK$0.420 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0100 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 2.36%

Our recommended stop-loss: HK$0.412 (-4.24%) (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 (3337.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Anton Oilfield Services Group to open at HK$0.427, and during the day (based on 14 day Average True Range), to move between HK$0.419 and HK$0.441, which gives a possible trading interval of +/-HK$0.0113 (+/-2.63%) up or down from last closing price. If Anton Oilfield Services Group takes out the full calculated possible swing range there will be an estimated 5.26% 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$0.435 (1.16%) than the support at HK$0.420 (2.33%), 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 Anton Oilfield Services Group stock A Buy?

Anton Oilfield Services Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.766 Hold/Accumulate Upgraded

Predicted Opening Price for Anton Oilfield Services Group of Monday, May 6, 2024

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