Everbright Securities Company Limited Stock Forecast

Everbright Securities Company Limited stock price ended at HK$5.74 on Tuesday, after losing 3.20%.
(Updated on May 21, 2024)

6178.HK Signals & Forecast

The Everbright Securities Company 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$5.85. On a fall, the stock will find some support from the long-term average at approximately HK$5.41. 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). 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 Monday, May 13, 2024, and so far it has fallen -4.17%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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

Everbright Securities Company Limited finds support from accumulated volume at HK$5.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.250 between high and low, or 4.36%. For the last week, the stock has had daily average volatility of 3.70%.

Our recommended stop-loss: HK$5.47 (-4.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (6178.HK) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Everbright Securities Company Limited to open at HK$5.82, and during the day (based on 14 day Average True Range), to move between HK$5.55 and HK$5.93, which gives a possible trading interval of +/-HK$0.189 (+/-3.29%) up or down from last closing price. If Everbright Securities Company Limited takes out the full calculated possible swing range there will be an estimated 6.58% 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$5.81 (1.22%) than the support at HK$5.54 (3.48%), 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 Everbright Securities Company Limited stock A Buy?

Everbright Securities Company 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: -0.150 Hold/Accumulate Unchanged

Predicted Opening Price for Everbright Securities Company Limited of Wednesday, May 22, 2024

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