Merdeka Financial Services Group Limited Stock Forecast

Volatile ride for Merdeka Financial Services Group Limited stock price on Friday moving between HK$0.0430 and HK$0.0480
(Updated on May 17, 2024)

8163.HK Signals & Forecast

The Merdeka Financial Services Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.0476 and HK$0.0449. A breakdown below any of these levels will issue sell signals. Merdeka Financial Services Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -5.88%. 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).

Support, Risk & Stop-loss for Merdeka Financial Services Group Limited stock

Merdeka Financial Services Group Limited finds support from accumulated volume at HK$0.0470 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0050 between high and low, or 11.63%. For the last week, the stock has had daily average volatility of 5.88%.

Our recommended stop-loss: HK$0.0457 (-4.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (8163.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Merdeka Financial Services Group Limited to open at HK$0.0463, and during the day (based on 14 day Average True Range), to move between HK$0.0445 and HK$0.0515, which gives a possible trading interval of +/-HK$0.0035 (+/-7.20%) up or down from last closing price. If Merdeka Financial Services Group Limited takes out the full calculated possible swing range there will be an estimated 14.41% 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$0.0490 (2.08%) than the support at HK$0.0470 (2.08%), 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 Merdeka Financial Services Group Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.381 Buy Candidate Upgraded

Predicted Opening Price for Merdeka Financial Services Group Limited of Monday, May 20, 2024

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