TradeGo FinTech Limited Stock Forecast

Red day on Monday for TradeGo FinTech Limited
(Updated on Jun 17, 2024)

8017.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 4.05%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The TradeGo FinTech 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$0.233 and HK$0.240. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for TradeGo FinTech Limited stock

TradeGo FinTech Limited finds support from accumulated volume at HK$0.230 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0060 (2.62%) between high and low. For the last week, the stock has had daily average volatility of 2.20%.

TradeGo FinTech Limited is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (8017.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect TradeGo FinTech Limited to open at HK$0.232, and during the day (based on 14 day Average True Range), to move between HK$0.224 and HK$0.238, which gives a possible trading interval of +/-HK$0.0068 (+/-2.94%) up or down from last closing price. If TradeGo FinTech Limited takes out the full calculated possible swing range there will be an estimated 5.89% 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$0.230 (0.43%) than the resistance at HK$0.245 (6.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is TradeGo FinTech Limited stock A Buy?

TradeGo FinTech Limited holds several negative signals and is within a 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: -1.685 Sell Candidate Unchanged

Predicted Opening Price for TradeGo FinTech Limited of Tuesday, June 18, 2024

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