CROSSTEC Group Holdings Limited Stock Forecast

CROSSTEC Group Holdings Limited stock price up 1.03% on Friday
(Updated on Apr 26, 2024)

3893.HK Signals & Forecast

The CROSSTEC Group Holdings Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.496. On a fall, the stock will find some support from the long-term average at approximately HK$0.380. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CROSSTEC Group 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. The very low volume increases the risk and reduces the other technical signals issued. 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, April 23, 2024, and so far it has fallen -5.77%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for CROSSTEC Group Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.400 and HK$0.390. 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, CROSSTEC Group Holdings Limited finds support just below today's level at HK$0.400. If this is broken, then the next support from accumulated volume will be at HK$0.390 and HK$0.380.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0300 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 7.77%.

Our recommended stop-loss: HK$0.464 (-5.38%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (3893.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect CROSSTEC Group Holdings Limited to open at HK$0.493, and during the day (based on 14 day Average True Range), to move between HK$0.456 and HK$0.524, which gives a possible trading interval of +/-HK$0.0345 (+/-7.03%) up or down from last closing price. If CROSSTEC Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.07% 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$0.495 (1.02%) than the support at HK$0.400 (18.37%), 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 CROSSTEC Group Holdings Limited stock A Buy?

CROSSTEC Group 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: -0.283 Hold/Accumulate Unchanged

Predicted Opening Price for CROSSTEC Group Holdings Limited of Monday, April 29, 2024

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