DCB Holdings Ltd Stock Forecast

Evaluation of DCB Holdings Ltd stock downgraded after the last trading session.
(Updated on Apr 26, 2024)

8040.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has fallen 0%. 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 DCB Holdings Ltd 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$0.554 and HK$0.564. 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).

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, March 22, 2024 and based on theory for this formation the price should go up by 16.50% to HK$0.629 within 11 trading days since signal was issued (Monday, April 29, 2024).

Support, Risk & Stop-loss for DCB Holdings Ltd stock

DCB Holdings Ltd finds support from accumulated volume at HK$0.530 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0100 between high and low, or 1.89%. For the last week, the stock has had daily average volatility of 2.97%.

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

Trading Expectations (8040.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect DCB Holdings Ltd to open at HK$0.537, and during the day (based on 14 day Average True Range), to move between HK$0.509 and HK$0.571, which gives a possible trading interval of +/-HK$0.0309 (+/-5.72%) up or down from last closing price. If DCB Holdings Ltd takes out the full calculated possible swing range there will be an estimated 11.44% 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$0.530 (1.85%) than the resistance at HK$0.560 (3.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is DCB Holdings Ltd stock A Buy?

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

Current score: -1.256 Sell Candidate Downgraded

Predicted Opening Price for DCB Holdings Ltd of Monday, April 29, 2024

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