Hengdeli Holdings Limited Stock Forecast

Red day on Friday for Hengdeli Holdings Limited
(Updated on May 17, 2024)

3389.HK Signals & Forecast

The Hengdeli Holdings 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$0.141 and HK$0.140. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Hengdeli Holdings Limited stock

Hengdeli Holdings Limited finds support from accumulated volume at HK$0.135 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.38%

Our recommended stop-loss: HK$0.133 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (3389.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Hengdeli Holdings Limited to open at HK$0.141, and during the day (based on 14 day Average True Range), to move between HK$0.135 and HK$0.147, which gives a possible trading interval of +/-HK$0.0062 (+/-4.38%) up or down from last closing price. If Hengdeli Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.75% 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$0.142 (0.71%) than the support at HK$0.135 (4.26%), 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 Hengdeli Holdings 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 Hengdeli Holdings Limited stock to perform well in the short-term.

Current score: 2.717 Buy Candidate Unchanged

Predicted Opening Price for Hengdeli Holdings Limited of Monday, May 20, 2024

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