Tong Kee (Holding) Limited Stock Forecast

Tong Kee (Holding) Limited stock price down 0% on Wednesday
(Updated on Jun 26, 2024)

8305.HK Signals & Forecast

The Tong Kee (Holding) Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.0451. On a fall, the stock will find some support from the long-term average at approximately HK$0.0414. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 5.00%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Tong Kee (Holding) Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0380 and HK$0.0370. 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, Tong Kee (Holding) Limited finds support just below today's level at HK$0.0380. If this is broken, then the next support from accumulated volume will be at HK$0.0370 and HK$0.0350.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0020 between high and low, or 5.00%. For the last week the stock has had daily average volatility of 9.11%.

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

Trading Expectations (8305.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Tong Kee (Holding) Limited to open at HK$0.0413, and during the day (based on 14 day Average True Range), to move between HK$0.0377 and HK$0.0463, which gives a possible trading interval of +/-HK$0.0043 (+/-10.17%) up or down from last closing price. If Tong Kee (Holding) Limited takes out the full calculated possible swing range there will be an estimated 20.34% 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$0.0450 (7.14%) than the support at HK$0.0380 (9.52%), 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 Tong Kee (Holding) Limited stock A Buy?

Tong Kee (Holding) Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.356 Sell Candidate Unchanged

Predicted Opening Price for Tong Kee (Holding) Limited of Thursday, June 27, 2024

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