Orient Securities Company Limited Stock Forecast

Orient Securities Company Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)

3958.HK Signals & Forecast

Mostly positive signals in the chart today. The Orient Securities Company 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$3.46 and HK$3.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 11.35%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Orient Securities Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$3.33 and HK$3.30. 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, Orient Securities Company Limited finds support just below today's level at HK$3.33. If this is broken, then the next support from accumulated volume will be at HK$3.30 and HK$3.27.

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$0.160 between high and low, or 4.61%. For the last week, the stock has had daily average volatility of 4.03%.

Our recommended stop-loss: HK$3.50 (-3.58%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (3958.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Orient Securities Company Limited to open at HK$3.58, and during the day (based on 14 day Average True Range), to move between HK$3.51 and HK$3.75, which gives a possible trading interval of +/-HK$0.119 (+/-3.27%) up or down from last closing price. If Orient Securities Company Limited takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$3.33, some HK$0.300 (8.26%) from the current price of HK$3.63, our system finds the risk reward attractive.

Is Orient Securities Company Limited stock A Buy?

Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Orient Securities Company Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.780 Buy Candidate Upgraded

Predicted Opening Price for Orient Securities Company Limited of Monday, May 20, 2024

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