Hengdeli Holdings Limited Stock Forecast

Hengdeli Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)

3389.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 3.05%. Further rise is indicated until a new top pivot has been found. 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 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$0.139. On a fall, the stock will find some support from the short-term average at HK$0.134. 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. Hengdeli Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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.

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$0.0050 between high and low, or 3.79%. For the last week, the stock has had daily average volatility of 3.51%.

Our recommended stop-loss: HK$0.129 (-4.47%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (3389.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th 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$0.129 and HK$0.141, which gives a possible trading interval of +/-HK$0.0060 (+/-4.44%) up or down from last closing price. If Hengdeli Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.88% 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$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 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: -0.398 Hold/Accumulate Upgraded

Predicted Opening Price for Hengdeli Holdings Limited of Monday, June 17, 2024

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