DLC Asia Limited Stock Forecast

High volatility in DLC Asia Limited stock price on Friday which ended trading at HK$0.0500
(Updated on Jun 28, 2024)

8210.HK Signals & Forecast

There are few to no technical positive signals at the moment. The DLC Asia 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$0.0576 and HK$0.0540. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -18.03%. 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). DLC Asia 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 DLC Asia Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0420 and HK$0.0400. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, DLC Asia Limited finds support just below today's level at HK$0.0420. If this is broken, then the next support from accumulated volume will be at HK$0.0400 and HK$0.0390.

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$0.0070 between high and low, or 14.89%. For the last week, the stock has had daily average volatility of 7.27%.

Our recommended stop-loss: HK$0.0473 (-5.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (8210.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect DLC Asia Limited to open at HK$0.0503, and during the day (based on 14 day Average True Range), to move between HK$0.0470 and HK$0.0530, which gives a possible trading interval of +/-HK$0.0030 (+/-5.96%) up or down from last closing price. If DLC Asia Limited takes out the full calculated possible swing range there will be an estimated 11.93% 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$0.0560 (12.00%) than the support at HK$0.0420 (16.00%), 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 DLC Asia Limited stock A Buy?

DLC Asia Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for DLC Asia Limited of Tuesday, July 2, 2024

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