Austar Lifesciences Limited Stock Forecast
Red day on Tuesday for Austar Lifesciences Limited
(Updated on May 21, 2024)
The Austar Lifesciences Limited stock price fell by -2.33% on the last day (Tuesday, 21st May 2024) from HK$0.86 to HK$0.84. During the last trading day the stock fluctuated 4.88% from a day low at HK$0.82 to a day high of HK$0.86. The price has risen in 6 of the last 10 days and is up by 18.31% over the past 2 weeks. Volume has increased on the last day by 30 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 52 thousand shares were bought and sold for approximately HK$43.68 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -49.46% during the next 3 months and, with a 90% probability hold a price between HK$0.278 and HK$0.477 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6118.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 18.31%. 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. The Austar Lifesciences Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.84 and HK$0.98. A break-up above any of these levels will issue buy signals. Austar Lifesciences Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Austar Lifesciences Limited stock
Austar Lifesciences Limited finds support from accumulated volume at HK$0.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.0400 between high and low, or 4.88%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6118.HK) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Austar Lifesciences Limited to open at HK$0.84, and during the day (based on 14 day Average True Range), to move between HK$0.762 and HK$0.92, which gives a possible trading interval of +/-HK$0.0783 (+/-9.32%) up or down from last closing price. If Austar Lifesciences Limited takes out the full calculated possible swing range there will be an estimated 18.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.82 (2.38%) than the resistance at HK$0.88 (4.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Austar Lifesciences Limited stock A Buy?
Austar Lifesciences Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.803 Sell Candidate Unchanged
Predicted Opening Price for Austar Lifesciences Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| HK$0.84 ( 0%) | HK$0.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6118.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 4.76 % | |
| R2 | 0.86 | 2.94 % | ||
| R1 | 0.86 | 1.82 % | ||
| Current price: | 0.84 | |||
| Support | S1 | 0.82 | -1.82 % | |
| S2 | 0.82 | -2.94 % | ||
| S3 | 0.800 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.95 | 13.10 % | |
| R2 | 0.90 | 7.14 % | ||
| R1 | 0.88 | 4.76 % | ||
| Current price | 0.84 | |||
| Support | S1 | 0.82 | -2.38% | |
| S2 | 0.760 | -9.52% | ||
| S3 | 0.730 | -13.10% |
6118 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 24, 2015 | May 19, 2015 | Jun 26, 2015 | HK$0.0500 | 1.59% |
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