Xinyi Automobile Glass Hong Kong Stock Forecast
High volatility in Xinyi Automobile Glass Hong Kong stock price on Friday which ended trading at HK$1.40
(Updated on Jun 28, 2024)
The Xinyi Automobile Glass Hong Kong stock price gained 6.87% on the last trading day (Friday, 28th Jun 2024), rising from HK$1.31 to HK$1.40. During the last trading day the stock fluctuated 12.00% from a day low at HK$1.25 to a day high of HK$1.40. The price has fallen in 6 of the last 10 days and is down by -7.89% for this period. Volume fell on the last day by -440 thousand shares and in total, 180 thousand shares were bought and sold for approximately HK$252.00 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.29% during the next 3 months and, with a 90% probability hold a price between HK$1.27 and HK$1.70 at the end of this 3-month period.
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8328.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 6.87%. 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. The Xinyi Automobile Glass Hong Kong 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$1.42 and HK$1.60. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Xinyi Automobile Glass Hong Kong stock
Xinyi Automobile Glass Hong Kong finds support from accumulated volume at HK$1.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.150 between high and low, or 12.00%. For the last week the stock has had daily average volatility of 5.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8328.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Xinyi Automobile Glass Hong Kong Enterprises Limited to open at HK$1.35, and during the day (based on 14 day Average True Range), to move between HK$1.32 and HK$1.48, which gives a possible trading interval of +/-HK$0.0757 (+/-5.41%) up or down from last closing price. If Xinyi Automobile Glass Hong Kong Enterprises Limited takes out the full calculated possible swing range there will be an estimated 10.81% 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$1.43 (2.14%) than the support at HK$1.36 (2.86%), 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 Xinyi Automobile Glass Hong Kong Enterprises Limited stock A Buy?
Xinyi Automobile Glass Hong Kong 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.
Current score: -1.334 Sell Candidate Unchanged
Predicted Opening Price for Xinyi Automobile Glass Hong Kong Enterprises Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$1.35 ( 3.57%) | HK$1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8328.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.50 | 7.14% |
| R2 | 1.44 | 3.05% |
| R1 | 1.41 | 0.521% |
| Price | 1.40 | |
| S1 | 1.29 | -7.66% |
| S2 | 1.26 | -10.19% |
| S3 | 1.20 | -14.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.73 | 23.57% |
| R2 | 1.56 | 11.43% |
| R1 | 1.43 | 2.14% |
| Price | 1.40 | |
| S1 | 1.36 | -2.86% |
| S2 | 1.31 | -6.43% |
| S3 | 0 | - |
FAQ
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