Alpha Era International Holdings Ltd Stock Forecast

Alpha Era International Holdings Ltd stock price ended at HK$0.0590 on Wednesday, after losing 0%.
(Updated on May 08, 2024)

8406.HK Signals & Forecast

The Alpha Era International Holdings Ltd 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$0.0614. On a fall, the stock will find some support from the long-term average at approximately HK$0.0570. 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. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -15.71%. Further fall is indicated until a new bottom pivot has been found. 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 Alpha Era International Holdings Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0550 and HK$0.0500. 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, Alpha Era International Holdings Ltd finds support just below today's level at HK$0.0550. If this is broken, then the next support from accumulated volume will be at HK$0.0500 and HK$0.0470.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 8.97%.

Our recommended stop-loss: HK$0.0555 (-5.90%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (8406.HK) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Alpha Era International Holdings Ltd to open at HK$0.0590, and during the day (based on 14 day Average True Range), to move between HK$0.0516 and HK$0.0664, which gives a possible trading interval of +/-HK$0.0074 (+/-12.56%) up or down from last closing price. If Alpha Era International Holdings Ltd takes out the full calculated possible swing range there will be an estimated 25.11% 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$0.0550 (6.78%) than the resistance at HK$0.0650 (10.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alpha Era International Holdings Ltd stock A Buy?

Alpha Era International Holdings Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.354 Hold/Accumulate Unchanged

Predicted Opening Price for Alpha Era International Holdings Ltd of Thursday, May 9, 2024

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