Hao Bai International (Cayman) Limited Stock Forecast
Weaker technical forecast for Hao Bai International (Cayman) Limited as stock downgraded to Sell Candidate.
(Updated on Jun 17, 2024)
The Hao Bai International (Cayman) Limited stock price fell by -1.20% on the last day (Monday, 17th Jun 2024) from HK$0.167 to HK$0.165. During the last trading day the stock fluctuated 6.45% from a day low at HK$0.155 to a day high of HK$0.165. The price has fallen in 5 of the last 10 days and is down by -2.37% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -140 thousand shares and in total, 60 thousand shares were bought and sold for approximately HK$9.90 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.47% during the next 3 months and, with a 90% probability hold a price between HK$0.118 and HK$0.194 at the end of this 3-month period.
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8431.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Hao Bai International (Cayman) 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$0.168 and HK$0.173. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -10.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Hao Bai International (Cayman) Limited stock
Hao Bai International (Cayman) Limited finds support from accumulated volume at HK$0.161 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$0.0100 between high and low, or 6.45%. For the last week the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8431.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Hao Bai International (Cayman) Limited to open at HK$0.162, and during the day (based on 14 day Average True Range), to move between HK$0.155 and HK$0.175, which gives a possible trading interval of +/-HK$0.0097 (+/-5.88%) up or down from last closing price. If Hao Bai International (Cayman) Limited takes out the full calculated possible swing range there will be an estimated 11.75% 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$0.161 (2.42%) than the resistance at HK$0.179 (8.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hao Bai International (Cayman) Limited stock A Buy?
The Hao Bai International (Cayman) Limited stock holds several negative signals and despite the positive trend, we believe Hao Bai International (Cayman) Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.929 Sell Candidate Downgraded
Predicted Opening Price for Hao Bai International (Cayman) Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$0.162 ( 2.02%) | HK$0.165 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8431.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.172 | 4.04% |
| R2 | 0.168 | 1.73% |
| R1 | 0.165 | 0.295% |
| Price | 0.165 | |
| S1 | 0.158 | -4.34% |
| S2 | 0.155 | -5.77% |
| S3 | 0.152 | -8.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.185 | 12.12% |
| R2 | 0.182 | 10.30% |
| R1 | 0.179 | 8.48% |
| Price | 0.165 | |
| S1 | 0.161 | -2.42% |
| S2 | 0.151 | -8.48% |
| S3 | 0.146 | -11.52% |
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