AL Group Limited Stock Forecast
Big movements in AL Group Limited stock price on Thursday moving 24.59% between high and low
(Updated on Apr 18, 2024)
The AL Group Limited stock price gained 15.15% on the last trading day (Thursday, 18th Apr 2024), rising from HK$0.660 to HK$0.760. During the last trading day the stock fluctuated 24.59% from a day low at HK$0.610 to a day high of HK$0.760. The price has risen in 5 of the last 10 days and is up by 26.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 96 thousand more shares were traded than the day before. In total, 138 thousand shares were bought and sold for approximately HK$104.88 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.80 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.16% during the next 3 months and, with a 90% probability hold a price between HK$0.462 and HK$0.762 at the end of this 3-month period.
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8360.HK Signals & Forecast
The AL Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.667 and HK$0.682. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). AL Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -7.32%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for AL Group Limited stock
AL Group Limited finds support from accumulated volume at HK$0.740 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.150 between high and low, or 24.59%. For the last week, the stock has had daily average volatility of 14.93%.
Our recommended stop-loss: HK$0.729 (-4.05%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (8360.HK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect AL Group Limited to open at HK$0.710, and during the day (based on 14 day Average True Range), to move between HK$0.677 and HK$0.84, which gives a possible trading interval of +/-HK$0.0834 (+/-10.97%) up or down from last closing price. If AL Group Limited takes out the full calculated possible swing range there will be an estimated 21.95% 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$0.770 (1.32%) than the support at HK$0.740 (2.63%), 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 AL Group Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.307 Buy Candidate Upgraded
Predicted Opening Price for AL Group Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| HK$0.710 ( 6.58%) | HK$0.760 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8360.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.86 | 13.16 % | |
| R2 | 0.80 | 5.62 % | ||
| R1 | 0.767 | 0.96 % | ||
| Current price: | 0.760 | |||
| Support | S1 | 0.653 | -14.12 % | |
| S2 | 0.617 | -18.78 % | ||
| S3 | 0.560 | -26.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 5.26 % | |
| R2 | 0.780 | 2.63 % | ||
| R1 | 0.770 | 1.32 % | ||
| Current price | 0.760 | |||
| Support | S1 | 0.740 | -2.63% | |
| S2 | 0.690 | -9.21% | ||
| S3 | 0.680 | -10.53% |
FAQ
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