Huabang Financial Holdings Limited Stock Forecast

Red day on Friday for Huabang Financial Holdings Limited stock after losing 1.67%
(Updated on May 03, 2024)

3638.HK Signals & Forecast

The Huabang Financial 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$0.556 and HK$0.483. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -4.84%. Further fall is indicated until a new bottom pivot has been found. Huabang Financial 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".

Support, Risk & Stop-loss for Huabang Financial Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.500 and HK$0.485. 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, Huabang Financial Holdings Limited finds support just below today's level at HK$0.500. If this is broken, then the next support from accumulated volume will be at HK$0.485 and HK$0.450.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0400 between high and low, or 6.78%. For the last week, the stock has had daily average volatility of 14.10%.

Our recommended stop-loss: HK$0.565 (-4.29%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (3638.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Huabang Financial Holdings Limited to open at HK$0.603, and during the day (based on 14 day Average True Range), to move between HK$0.551 and HK$0.629, which gives a possible trading interval of +/-HK$0.0388 (+/-6.58%) up or down from last closing price. If Huabang Financial Holdings Limited takes out the full calculated possible swing range there will be an estimated 13.15% 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$0.600 (1.69%) than the support at HK$0.500 (15.25%), 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 Huabang Financial 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 Huabang Financial Holdings Limited stock to perform well in the short-term.

Current score: 1.829 Buy Candidate Unchanged

Predicted Opening Price for Huabang Financial Holdings Limited of Monday, May 6, 2024

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