Inke Limited Stock Forecast

Inke Limited stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)

3700.HK Signals & Forecast

The Inke 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$0.82 and HK$0.82. 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 Friday, April 05, 2024, and so far it has fallen -6.67%. 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 Inke Limited stock

Inke Limited finds support from accumulated volume at HK$0.81 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$0.0300 between high and low, or 3.66%. For the last week, the stock has had daily average volatility of 5.82%.

Our recommended stop-loss: HK$0.80 (-4.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (3700.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Inke Limited to open at HK$0.84, and during the day (based on 14 day Average True Range), to move between HK$0.793 and HK$0.89, which gives a possible trading interval of +/-HK$0.0471 (+/-5.61%) up or down from last closing price. If Inke Limited takes out the full calculated possible swing range there will be an estimated 11.21% 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$0.85 (1.19%) than the support at HK$0.81 (3.57%), 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 Inke Limited stock A Buy?

Inke 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: -0.309 Hold/Accumulate Upgraded

Predicted Opening Price for Inke Limited of Monday, April 29, 2024

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