abc Multiactive Limited Stock Forecast

abc Multiactive Limited stock price took a fall of -7.21% on Friday
(Updated on Jun 28, 2024)

8131.HK Signals & Forecast

There are few to no technical positive signals at the moment. The abc Multiactive Limited 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$0.113 and HK$0.118. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -20.77%. 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). abc Multiactive 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.

Support, Risk & Stop-loss for abc Multiactive Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 9.90%. For the last week, the stock has had daily average volatility of 2.33%.

abc Multiactive Limited is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (8131.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect abc Multiactive Limited to open at HK$0.105, and during the day (based on 14 day Average True Range), to move between HK$0.0976 and HK$0.108, which gives a possible trading interval of +/-HK$0.0054 (+/-5.26%) up or down from last closing price. If abc Multiactive Limited takes out the full calculated possible swing range there will be an estimated 10.52% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.104, some HK$0.0010 (0.97%) from the current price of HK$0.103, our system finds the risk reward not very attractive.

Is abc Multiactive Limited stock A Buy?

abc Multiactive Limited holds several negative signals and is within a very 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 Strong Sell candidate.

Current score: -5.099 Strong Sell Candidate Downgraded

Predicted Opening Price for abc Multiactive Limited of Tuesday, July 2, 2024

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