Transcenta Holding Limited Stock Forecast

Green day on Thursday for Transcenta Holding Limited stock after gaining 2.99%
(Updated on Jun 20, 2024)

6628.HK Signals & Forecast

Transcenta Holding 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Transcenta Holding 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$1.44 and HK$1.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -27.37%. 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 Transcenta Holding Limited stock

Transcenta Holding Limited finds support from accumulated volume at HK$1.36 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$0.0500 between high and low, or 3.76%. For the last week, the stock has had daily average volatility of 7.01%.

Transcenta Holding Limited is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (6628.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Transcenta Holding Limited to open at HK$1.36, and during the day (based on 14 day Average True Range), to move between HK$1.28 and HK$1.48, which gives a possible trading interval of +/-HK$0.101 (+/-7.35%) up or down from last closing price. If Transcenta Holding Limited takes out the full calculated possible swing range there will be an estimated 14.71% 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$1.36 (1.45%) than the resistance at HK$1.58 (14.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Transcenta Holding Limited stock A Buy?

Transcenta Holding 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: -6.256 Strong Sell Candidate Unchanged

Predicted Opening Price for Transcenta Holding Limited of Friday, June 21, 2024

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