Royal Catering Group Holdings Co Ltd Stock Forecast

High volatility in Royal Catering Group Holdings Co Ltd stock price on Monday which ended trading at HK$0.143
(Updated on May 13, 2024)

8300.HK Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Royal Catering Group Holdings 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$0.159 and HK$0.192. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -42.80%. Further fall is indicated until a new bottom pivot has been found. Royal Catering Group Holdings Co Ltd 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 Royal Catering Group Holdings 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 may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0350 between high and low, or 28.00%. For the last week, the stock has had daily average volatility of 8.20%.

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

Trading Expectations (8300.HK) For The Upcoming Trading Day Of Tuesday 14th

For the upcoming trading day on Tuesday, 14th we expect Royal Catering Group Holdings Company Limited to open at HK$0.143, and during the day (based on 14 day Average True Range), to move between HK$0.128 and HK$0.158, which gives a possible trading interval of +/-HK$0.0150 (+/-10.51%) up or down from last closing price. If Royal Catering Group Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 21.02% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.157, some HK$0.0140 (9.79%) from the current price of HK$0.143, our system finds the risk reward not very attractive.

Is Royal Catering Group Holdings Company Limited stock A Buy?

Royal Catering Group Holdings Co Ltd 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: -7.517 Strong Sell Candidate Downgraded

Predicted Opening Price for Royal Catering Group Holdings Company Limited of Tuesday, May 14, 2024

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