Honma Golf Limited Stock Forecast

Honma Golf Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)

6858.HK Signals & Forecast

The Honma Golf 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$3.35. On a fall, the stock will find some support from the long-term average at approximately HK$3.31. 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. 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, May 08, 2024, and so far it has fallen -1.48%. 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 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". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, April 11, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Thursday, April 11, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, May 08, 2024 and based on theory for this formation the price should fall by -6.44% to HK$3.12 within 35 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for Honma Golf Limited stock

Honma Golf Limited finds support from accumulated volume at HK$3.30 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$0.0100 between high and low, or 0.300%. For the last week the stock has had daily average volatility of 2.54%

Our recommended stop-loss: HK$3.18 (-4.37%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (6858.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Honma Golf Limited to open at HK$3.33, and during the day (based on 14 day Average True Range), to move between HK$3.26 and HK$3.40, which gives a possible trading interval of +/-HK$0.0669 (+/-2.01%) up or down from last closing price. If Honma Golf Limited takes out the full calculated possible swing range there will be an estimated 4.02% 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$3.34 (0.30%) than the support at HK$3.30 (0.90%), 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 Honma Golf Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Honma Golf Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.429 Buy Candidate Upgraded

Predicted Opening Price for Honma Golf Limited of Monday, May 20, 2024

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