Modern Dental Group Limited Stock Forecast

Green day on Thursday for Modern Dental Group Limited stock after gaining 0.189%
(Updated on May 09, 2024)

3600.HK Signals & Forecast

The Modern Dental Group 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$5.13 and HK$4.58. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, May 07, 2024, and so far it has fallen -0.188%. 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 Modern Dental Group Limited stock

Modern Dental Group Limited finds support from accumulated volume at HK$5.09 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$0.160 between high and low, or 3.08%. For the last week, the stock has had daily average volatility of 2.92%.

The Modern Dental Group Limited stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$5.12 (-3.53%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (3600.HK) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Modern Dental Group Limited to open at HK$5.28, and during the day (based on 14 day Average True Range), to move between HK$5.13 and HK$5.49, which gives a possible trading interval of +/-HK$0.180 (+/-3.38%) up or down from last closing price. If Modern Dental Group Limited takes out the full calculated possible swing range there will be an estimated 6.77% 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$5.32 (0.19%) than the support at HK$5.09 (4.14%), 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 Modern Dental Group 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 Modern Dental Group Limited stock to perform well in the short-term.

Current score: 1.435 Buy Candidate Unchanged

Predicted Opening Price for Modern Dental Group Limited of Friday, May 10, 2024

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