Hengdeli Holdings Limited Stock Forecast

Red day on Thursday for Hengdeli Holdings Limited stock after losing 0%
(Updated on Jun 20, 2024)

3389.HK Signals & Forecast

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. The Hengdeli Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.135 and HK$0.138. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -1.46%. Further fall is indicated until a new bottom pivot has been found. 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$0.134 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 0.758%

Our recommended stop-loss: HK$0.129 (-4.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (3389.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Hengdeli Holdings Limited to open at HK$0.135, and during the day (based on 14 day Average True Range), to move between HK$0.131 and HK$0.139, which gives a possible trading interval of +/-HK$0.0044 (+/-3.28%) up or down from last closing price. If Hengdeli Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.57% 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$0.134 (0.74%) than the resistance at HK$0.137 (1.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hengdeli Holdings Limited stock A Buy?

Hengdeli Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Hengdeli Holdings Limited of Friday, June 21, 2024

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