Bortex Global Limited Stock Forecast
Volatile ride for Bortex Global Limited stock price on Friday moving between HK$0.0640 and HK$0.122
(Updated on May 03, 2024)
The Bortex Global Limited stock price fell by -7.69% on the last day (Friday, 3rd May 2024) from HK$0.0780 to HK$0.0720. During the last trading day the stock fluctuated 90.63% from a day low at HK$0.0640 to a day high of HK$0.122. The price has been going up and down for this period, and there has been a -19.1% loss 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 -56 thousand shares and in total, 152 thousand shares were bought and sold for approximately HK$10.94 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.0685 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.76% during the next 3 months and, with a 90% probability hold a price between HK$0.0779 and HK$0.148 at the end of this 3-month period.
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8118.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 Bortex Global 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$0.0771 and HK$0.0761. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -19.10%. 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.
Support, Risk & Stop-loss for Bortex Global Limited stock
Bortex Global Limited finds support from accumulated volume at HK$0.0690 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0580 between high and low, or 90.63%. For the last week the stock has had daily average volatility of 18.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8118.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Bortex Global Limited to open at HK$0.0860, and during the day (based on 14 day Average True Range), to move between HK$0.0604 and HK$0.0836, which gives a possible trading interval of +/-HK$0.0116 (+/-16.15%) up or down from last closing price. If Bortex Global Limited takes out the full calculated possible swing range there will be an estimated 32.30% 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$0.0690 (4.17%) than the resistance at HK$0.0780 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bortex Global Limited stock A Buy?
The Bortex Global Limited stock holds several negative signals and despite the positive trend, we believe Bortex Global 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 Hold/Accumulate to a Sell candidate.
Current score: -1.341 Sell Candidate Downgraded
Predicted Opening Price for Bortex Global Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.0860 ( 19.44%) | HK$0.0720 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8118.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.144 | 100.00 % | |
| R2 | 0.122 | 69.23 % | ||
| R1 | 0.108 | 50.22 % | ||
| Current price: | 0.0720 | |||
| Support | S1 | 0.0638 | -11.33 % | |
| S2 | 0.0502 | -30.34 % | ||
| S3 | 0.0280 | -61.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0890 | 23.61 % | |
| R2 | 0.0820 | 13.89 % | ||
| R1 | 0.0780 | 8.33 % | ||
| Current price | 0.0720 | |||
| Support | S1 | 0.0690 | -4.17% | |
| S2 | 0.0670 | -6.94% | ||
| S3 | 0.0650 | -9.72% |
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