Ahsay Backup Software Development Co Ltd Stock Forecast

Big movements in Ahsay Backup Software Development Co Ltd stock price on Friday moving 10.53% between high and low
(Updated on Jun 28, 2024)

8290.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ahsay Backup Software Development Co Ltd 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$0.0213 and HK$0.0217. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Buy

Special Signal Notification

Double Bottom Formation

Support, Risk & Stop-loss for Ahsay Backup Software Development Co Ltd 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$0.0020 between high and low, or 10.53%. For the last week, the stock has had daily average volatility of 9.47%.

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

Trading Expectations (8290.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Ahsay Backup Software Development Company Limited to open at HK$0.0200, and during the day (based on 14 day Average True Range), to move between HK$0.0182 and HK$0.0218, which gives a possible trading interval of +/-HK$0.0018 (+/-8.81%) up or down from last closing price. If Ahsay Backup Software Development Company Limited takes out the full calculated possible swing range there will be an estimated 17.61% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.0210, some HK$0.0010 (5.00%) from the current price of HK$0.0200, our system finds the risk reward not very attractive.

Is Ahsay Backup Software Development Company Limited stock A Buy?

The Ahsay Backup Software Development Co Ltd stock holds several negative signals and despite the positive trend, we believe Ahsay Backup Software Development Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.156 Sell Candidate Unchanged

Predicted Opening Price for Ahsay Backup Software Development Company Limited of Tuesday, July 2, 2024

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