Hao Bai International (Cayman) Limited Stock Forecast

Red day on Wednesday for Hao Bai International (Cayman) Limited
(Updated on Jun 26, 2024)

8431.HK Signals & Forecast

The Hao Bai International (Cayman) Limited 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$0.183. On a fall, the stock will find some support from the long-term average at approximately HK$0.175. 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 Wednesday, June 19, 2024, and so far it has fallen -15.42%. 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. The stock had a Golden Star Signal on Thursday, June 20, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Hao Bai International (Cayman) Limited stock

Hao Bai International (Cayman) Limited finds support from accumulated volume at HK$0.179 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 periodic low trading volume this stock is considered to be "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 6.62%.

Our recommended stop-loss: HK$0.170 (-5.88%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 43 days ago.)

Trading Expectations (8431.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Hao Bai International (Cayman) Limited to open at HK$0.181, and during the day (based on 14 day Average True Range), to move between HK$0.168 and HK$0.194, which gives a possible trading interval of +/-HK$0.0133 (+/-7.35%) 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 14.70% 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$0.182 (0.55%) than the support at HK$0.179 (1.10%), 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 Hao Bai International (Cayman) Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hao Bai International (Cayman) Limited stock to perform well in the short-term.

Current score: 1.618 Buy Candidate Unchanged

Predicted Opening Price for Hao Bai International (Cayman) Limited of Thursday, June 27, 2024

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