Tai Hing Group Holdings Ltd Stock Forecast

Weaker technical forecast for Tai Hing Group Holdings Ltd as stock downgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)

6811.HK Signals & Forecast

The Tai Hing Group Holdings Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.88 and HK$0.88. A breakdown below any of these levels will issue sell signals. 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 Wednesday, March 20, 2024, and so far it has fallen -4.30%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Tai Hing Group Holdings Ltd stock

Tai Hing Group Holdings Ltd finds support from accumulated volume at HK$0.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0200 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 1.62%

Our recommended stop-loss: HK$0.85 (-4.38%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (6811.HK) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Tai Hing Group Holdings Ltd to open at HK$0.88, and during the day (based on 14 day Average True Range), to move between HK$0.87 and HK$0.91, which gives a possible trading interval of +/-HK$0.0170 (+/-1.91%) up or down from last closing price. If Tai Hing Group Holdings Ltd takes out the full calculated possible swing range there will be an estimated 3.83% 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$0.90 (1.12%) than the support at HK$0.87 (2.25%), 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 Tai Hing Group Holdings Ltd stock A Buy?

Tai Hing Group Holdings Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.838 Hold/Accumulate Downgraded

Predicted Opening Price for Tai Hing Group Holdings Ltd of Thursday, May 2, 2024

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