Roma Group Limited Stock Forecast
Evaluation of Roma Group Limited stock downgraded after the last trading session.
(Updated on Jun 26, 2024)
The Roma Group Limited stock price fell by -3.85% on the last day (Wednesday, 26th Jun 2024) from HK$0.0260 to HK$0.0250. During the last trading day the stock fluctuated 4.17% from a day low at HK$0.0240 to a day high of HK$0.0250. The price has been going up and down for this period, and there has been a 4.17% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 million shares and in total, 280 thousand shares were bought and sold for approximately HK$7.00 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.30% during the next 3 months and, with a 90% probability hold a price between HK$0.0237 and HK$0.0303 at the end of this 3-month period.
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8072.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 Roma Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.0264 and HK$0.0254. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -13.79%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, June 17, 2024 and based on theory for this formation the price should fall by -4.00% to HK$0.0240 within 4 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for Roma Group Limited stock
Roma Group Limited finds support from accumulated volume at HK$0.0240 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0010 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 6.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8072.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Roma Group Limited to open at HK$0.0247, and during the day (based on 14 day Average True Range), to move between HK$0.0229 and HK$0.0271, which gives a possible trading interval of +/-HK$0.0021 (+/-8.36%) up or down from last closing price. If Roma Group Limited takes out the full calculated possible swing range there will be an estimated 16.71% 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$0.0260 (4.00%) than the support at HK$0.0240 (4.00%), 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 Roma Group Limited stock A Buy?
The Roma Group Limited stock holds several negative signals and despite the positive trend, we believe Roma Group Limited will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.604 Sell Candidate Downgraded
Predicted Opening Price for Roma Group Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.0247 ( 1.33%) | HK$0.0250 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8072.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0257 | 2.67% |
| R2 | 0.0253 | 1.14% |
| R1 | 0.0250 | 0.195% |
| Price | 0.0250 | |
| S1 | 0.0243 | -2.86% |
| S2 | 0.0240 | -3.81% |
| S3 | 0.0237 | -5.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0280 | 12.00% |
| R2 | 0.0270 | 8.00% |
| R1 | 0.0260 | 4.00% |
| Price | 0.0250 | |
| S1 | 0.0240 | -4.00% |
| S2 | 0.0230 | -8.00% |
| S3 | 0 | - |
FAQ
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