Mega Genomics Limited Stock Forecast
Stronger technical forecast for Mega Genomics Limited stock price after Thursday trading.
(Updated on Jun 20, 2024)
The Mega Genomics Limited stock price gained 1.77% on the last trading day (Thursday, 20th Jun 2024), rising from HK$9.62 to HK$9.79. During the last trading day the stock fluctuated 3.82% from a day low at HK$9.43 to a day high of HK$9.79. The price has fallen in 6 of the last 10 days and is down by -1.9% for this period. Volume fell on the last day by -112 thousand shares and in total, 27 thousand shares were bought and sold for approximately HK$268.25 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$9.45 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.51% during the next 3 months and, with a 90% probability hold a price between HK$10.53 and HK$12.60 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
6667.HK Signals & Forecast
A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -8.33%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Mega Genomics 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$9.83. On a fall, the stock will find some support from the long-term average at approximately HK$9.70. 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.
Support, Risk & Stop-loss for Mega Genomics Limited stock
Mega Genomics Limited finds support from accumulated volume at HK$9.78 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.360 between high and low, or 3.82%. For the last week the stock has had daily average volatility of 5.03%.
Our recommended stop-loss: HK$9.26 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 58 days ago.)
Trading Expectations (6667.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Mega Genomics Limited to open at HK$9.67, and during the day (based on 14 day Average True Range), to move between HK$9.19 and HK$10.39, which gives a possible trading interval of +/-HK$0.603 (+/-6.16%) up or down from last closing price. If Mega Genomics Limited takes out the full calculated possible swing range there will be an estimated 12.32% 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$9.78 (0.10%) than the resistance at HK$9.81 (0.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mega Genomics Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.969 Buy Candidate Upgraded
Predicted Opening Price for Mega Genomics Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$9.67 ( 1.23%) | HK$9.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6667.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.03 | 2.45% |
| R2 | 9.89 | 1.05% |
| R1 | 9.81 | 0.179% |
| Price | 9.79 | |
| S1 | 9.53 | -2.63% |
| S2 | 9.45 | -3.50% |
| S3 | 9.31 | -4.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.60 | 8.27% |
| R2 | 9.98 | 1.94% |
| R1 | 9.81 | 0.204% |
| Price | 9.79 | |
| S1 | 9.78 | -0.102% |
| S2 | 9.49 | -3.06% |
| S3 | 9.00 | -8.07% |
FAQ
Click here for our free guide on how to buy Mega Genomics Limited Stock.
