Bortex Global Limited Stock Forecast

Bortex Global Limited stock price fell more than -9.38% Friday closing at HK$0.0870
(Updated on May 24, 2024)

8118.HK Signals & Forecast

A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -38.73%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bortex Global Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Bortex Global Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.0883. On a fall, the stock will find some support from the long-term average at approximately HK$0.0852. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.

Support, Risk & Stop-loss for Bortex Global Limited stock

Bortex Global Limited finds support from accumulated volume at HK$0.0860 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0060 between high and low, or 6.90%. For the last week, the stock has had daily average volatility of 14.34%.

Our recommended stop-loss: HK$0.0827 (-4.92%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 32 days ago.)

Trading Expectations (8118.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Bortex Global Limited to open at HK$0.0890, and during the day (based on 14 day Average True Range), to move between HK$0.0706 and HK$0.103, which gives a possible trading interval of +/-HK$0.0164 (+/-18.80%) up or down from last closing price. If Bortex Global Limited takes out the full calculated possible swing range there will be an estimated 37.60% 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$0.0860 (1.15%) than the resistance at HK$0.0890 (2.30%), 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?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 2.200 Buy Candidate Unchanged

Predicted Opening Price for Bortex Global Limited of Monday, May 27, 2024

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