Prosperous Printing Company Limited Stock Forecast

Prosperous Printing Company Limited stock downgraded to Sell Candidate
(Updated on Apr 17, 2024)

8385.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Prosperous Printing Company Limited 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$0.183 and HK$0.188. A break-up above any of these levels will issue buy signals. 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 Prosperous Printing Company Limited stock

Prosperous Printing Company Limited finds support from accumulated volume at HK$0.175 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.225%

Prosperous Printing Company Limited is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (8385.HK) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Prosperous Printing Company Limited to open at HK$0.178, and during the day (based on 14 day Average True Range), to move between HK$0.175 and HK$0.181, which gives a possible trading interval of +/-HK$0.0026 (+/-1.43%) up or down from last closing price. If Prosperous Printing Company Limited takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.175 (1.69%) than the resistance at HK$0.185 (3.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Prosperous Printing Company Limited stock A Buy?

Prosperous Printing Company 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. 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 Sell candidate.

Current score: -2.035 Sell Candidate Downgraded

Predicted Opening Price for Prosperous Printing Company Limited of Thursday, April 18, 2024

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