Ming Fai International Holdings Limited Stock Forecast

Ming Fai International Holdings Limited stock price ended at HK$0.750 on Friday, after gaining 2.74%.
(Updated on May 10, 2024)

3828.HK Signals & Forecast

The Ming Fai International 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$0.700 and HK$0.681. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 13.64%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Ming Fai International Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.680 and HK$0.670. 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, Ming Fai International Holdings Limited finds support just below today's level at HK$0.680. If this is broken, then the next support from accumulated volume will be at HK$0.670 and HK$0.660.

In general the stock tends to have controlled movements and therefore the general risk is considered 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$0.0400 between high and low, or 5.63%. For the last week the stock has had daily average volatility of 3.45%.

Our recommended stop-loss: HK$0.727 (-3.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (3828.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Ming Fai International Holdings Limited to open at HK$0.737, and during the day (based on 14 day Average True Range), to move between HK$0.728 and HK$0.772, which gives a possible trading interval of +/-HK$0.0221 (+/-2.95%) up or down from last closing price. If Ming Fai International Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.680, some HK$0.0700 (9.33%) from the current price of HK$0.750, our system finds the risk reward attractive.

Is Ming Fai International Holdings Limited stock A Buy?

Ming Fai International 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.

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 Ming Fai International Holdings Limited of Monday, May 13, 2024

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