Luk Hing Entertainment Group Holdings Stock Forecast

Red day on Tuesday for Luk Hing Entertainment Group Holdings
(Updated on Apr 30, 2024)

8052.HK Signals & Forecast

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. The Luk Hing Entertainment Group Holdings stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.0514. On a fall, the stock will find some support from the short-term average at HK$0.0467. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen 0%. 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Luk Hing Entertainment Group Holdings stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0470 and HK$0.0440. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Luk Hing Entertainment Group Holdings finds support just below today's level at HK$0.0470. If this is broken, then the next support from accumulated volume will be at HK$0.0440 and HK$0.0410.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.70%

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

Trading Expectations (8052.HK) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Luk Hing Entertainment Group Holdings Limited to open at HK$0.0500, and during the day (based on 14 day Average True Range), to move between HK$0.0481 and HK$0.0519, which gives a possible trading interval of +/-HK$0.0019 (+/-3.74%) up or down from last closing price. If Luk Hing Entertainment Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.48% 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$0.0510 (2.00%) than the support at HK$0.0470 (6.00%), 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 Luk Hing Entertainment Group Holdings Limited stock A Buy?

Luk Hing Entertainment Group Holdings holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.470 Sell Candidate Unchanged

Predicted Opening Price for Luk Hing Entertainment Group Holdings Limited of Thursday, May 2, 2024

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