Logan Group Company Limited Stock Forecast

Logan Group Company Limited stock price down 0% on Thursday
(Updated on Jun 20, 2024)

3380.HK Signals & Forecast

The Logan Group Company Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.663 and HK$0.677. A breakdown below any of these levels will issue sell signals. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Friday, May 17, 2024, and so far it has fallen -18.07%. 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).

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

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.610 and HK$0.590. 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, Logan Group Company Limited finds support just below today's level at HK$0.610. If this is broken, then the next support from accumulated volume will be at HK$0.590 and HK$0.540.

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$0.0200 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 4.59%.

Our recommended stop-loss: HK$0.638 (-6.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (3380.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Logan Group Company Limited to open at HK$0.687, and during the day (based on 14 day Average True Range), to move between HK$0.641 and HK$0.719, which gives a possible trading interval of +/-HK$0.0386 (+/-5.67%) up or down from last closing price. If Logan Group Company Limited takes out the full calculated possible swing range there will be an estimated 11.35% 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$0.710 (4.41%) than the support at HK$0.610 (10.29%), 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 Logan Group Company Limited stock A Buy?

Logan Group Company Limited 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.

Current score: -0.094 Hold/Accumulate Unchanged

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

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