China Starch Holdings Limited Stock Forecast

Strong day for China Starch Holdings Limited stock price on Wednesday rising 5.44% to HK$0.155
(Updated on Apr 24, 2024)

3838.HK Signals & Forecast

The China Starch 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$0.151 and HK$0.144. A breakdown below any of these levels will issue sell signals. China Starch Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, April 10, 2024, and so far it has fallen -0.641%. 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 China Starch Holdings Limited stock

China Starch Holdings Limited finds support from accumulated volume at HK$0.149 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0110 (7.38%) between high and low. For the last week, the stock has had daily average volatility of 4.17%.

Our recommended stop-loss: HK$0.149 (-3.99%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (3838.HK) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect China Starch Holdings Limited to open at HK$0.155, and during the day (based on 14 day Average True Range), to move between HK$0.149 and HK$0.161, which gives a possible trading interval of +/-HK$0.0064 (+/-4.12%) up or down from last closing price. If China Starch Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.24% 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$0.156 (0.65%) than the support at HK$0.149 (3.87%), 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 China Starch 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 China Starch Holdings Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.389 Buy Candidate Upgraded

Predicted Opening Price for China Starch Holdings Limited of Thursday, April 25, 2024

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