Future Data Group Limited Stock Forecast

Future Data Group Limited stock price down 1.01% on Thursday
(Updated on Jun 20, 2024)

8229.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Future Data Group 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$0.494 and HK$0.504. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -9.26%. 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). 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.

Support, Risk & Stop-loss for Future Data Group Limited stock

Future Data Group Limited finds support from accumulated volume at HK$0.480 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0050 between high and low, or 1.02%. For the last week the stock has had daily average volatility of 0.81%

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

Trading Expectations (8229.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Future Data Group Limited to open at HK$0.492, and during the day (based on 14 day Average True Range), to move between HK$0.479 and HK$0.501, which gives a possible trading interval of +/-HK$0.0107 (+/-2.18%) up or down from last closing price. If Future Data Group Limited takes out the full calculated possible swing range there will be an estimated 4.37% 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$0.500 (2.04%) than the support at HK$0.480 (2.04%), 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 Future Data Group Limited stock A Buy?

The Future Data Group Limited stock holds several negative signals and despite the positive trend, we believe Future Data Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.555 Sell Candidate Unchanged

Predicted Opening Price for Future Data Group Limited of Friday, June 21, 2024

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