FIT Hon Teng Limited Stock Forecast

Big movements in FIT Hon Teng Limited stock price on Friday moving 13.33% between high and low
(Updated on Apr 26, 2024)

6088.HK Signals & Forecast

The FIT Hon Teng 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$2.06 and HK$1.87. 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 Wednesday, April 10, 2024, and so far it has fallen -3.28%. 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 FIT Hon Teng Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$2.15 and HK$2.03. 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, FIT Hon Teng Limited finds support just below today's level at HK$2.15. If this is broken, then the next support from accumulated volume will be at HK$2.03 and HK$1.82.

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$0.280 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 6.98%.

Our recommended stop-loss: HK$2.26 (-4.40%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (6088.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect FIT Hon Teng Limited to open at HK$2.28, and during the day (based on 14 day Average True Range), to move between HK$2.20 and HK$2.52, which gives a possible trading interval of +/-HK$0.164 (+/-6.94%) up or down from last closing price. If FIT Hon Teng Limited takes out the full calculated possible swing range there will be an estimated 13.87% 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$2.44 (3.39%) than the support at HK$2.15 (8.90%), 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 FIT Hon Teng Limited stock A Buy?

FIT Hon Teng Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.105 Strong Buy Candidate Unchanged

Predicted Opening Price for FIT Hon Teng Limited of Monday, April 29, 2024

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