AL Group Limited Stock Forecast
Volatile ride for AL Group Limited stock price on Tuesday moving between HK$0.570 and HK$0.720
(Updated on Apr 30, 2024)
The AL Group Limited stock price gained 11.48% on the last trading day (Tuesday, 30th Apr 2024), rising from HK$0.610 to HK$0.680. During the last trading day the stock fluctuated 26.32% from a day low at HK$0.570 to a day high of HK$0.720. The price has been going up and down for this period, and there has been a 1.49% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately HK$10.75 million.
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 -11.64% during the next 3 months and, with a 90% probability hold a price between HK$0.504 and HK$0.660 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8360.HK Signals & Forecast
Mostly positive signals in the chart today. 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$0.670 and HK$0.674. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 11.48%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for AL Group Limited stock
AL Group Limited finds support from accumulated volume at HK$0.670 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 26.32%. For the last week, the stock has had daily average volatility of 14.76%.
Our recommended stop-loss: HK$0.653 (-3.90%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (8360.HK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect AL Group Limited to open at HK$0.657, and during the day (based on 14 day Average True Range), to move between HK$0.594 and HK$0.766, which gives a possible trading interval of +/-HK$0.0859 (+/-12.64%) up or down from last closing price. If AL Group Limited takes out the full calculated possible swing range there will be an estimated 25.27% 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$0.690 (1.47%) than the support at HK$0.670 (1.47%), 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 Strong Sell to a Buy candidate.
Current score: 1.398 Buy Candidate Upgraded
Predicted Opening Price for AL Group Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| HK$0.657 ( 3.43%) | HK$0.680 |
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 | 0.81 | 18.63 % | |
| R2 | 0.749 | 10.20 % | ||
| R1 | 0.714 | 5.00 % | ||
| Current price: | 0.680 | |||
| Support | S1 | 0.599 | -11.86 % | |
| S2 | 0.564 | -17.06 % | ||
| S3 | 0.507 | -25.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.730 | 7.35 % | |
| R2 | 0.710 | 4.41 % | ||
| R1 | 0.690 | 1.47 % | ||
| Current price | 0.680 | |||
| Support | S1 | 0.670 | -1.47% | |
| S2 | 0.660 | -2.94% | ||
| S3 | 0.610 | -10.29% |
FAQ
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