Zhicheng Technology Group Ltd. Stock Forecast
Zhicheng Technology Group Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
No changes to the price of Zhicheng Technology Group Ltd. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.0300 to a day high of HK$0.0300. The price has fallen in 5 of the last 10 days and is down by -14.29% for this period.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.0291 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.22% during the next 3 months and, with a 90% probability hold a price between HK$0.0315 and HK$0.0404 at the end of this 3-month period.
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8511.HK Signals & Forecast
There are mixed signals in the stock today. The Zhicheng Technology Group Ltd. 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$0.0320 and HK$0.0321. 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. A buy signal was issued from a pivot bottom point on Thursday, May 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).
Support, Risk & Stop-loss for Zhicheng Technology Group Ltd. stock
Zhicheng Technology Group Ltd. finds support from accumulated volume at HK$0.0290 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 2.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8511.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Zhicheng Technology Group Ltd. to open at HK$0.0300, and during the day (based on 14 day Average True Range), to move between HK$0.0284 and HK$0.0316, which gives a possible trading interval of +/-HK$0.0016 (+/-5.25%) up or down from last closing price. If Zhicheng Technology Group Ltd. takes out the full calculated possible swing range there will be an estimated 10.49% 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$0.0290 (3.33%) than the resistance at HK$0.0310 (3.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhicheng Technology Group Ltd. stock A Buy?
Zhicheng Technology Group Ltd. 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: -2.992 Sell Candidate Downgraded
Predicted Opening Price for Zhicheng Technology Group Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.0300 ( 0%) | HK$0.0300 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8511.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0300 | . | |
| R2 | 0.0300 | . | ||
| R1 | 0.0300 | . | ||
| Current price: | 0.0300 | |||
| Support | S1 | 0.0300 | . | |
| S2 | 0.0300 | . | ||
| S3 | 0.0300 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0350 | 16.67 % | |
| R2 | 0.0330 | 10.00 % | ||
| R1 | 0.0310 | 3.33 % | ||
| Current price | 0.0300 | |||
| Support | S1 | 0.0290 | -3.33% | |
| S2 | 0.0280 | -6.67% | ||
| S3 | 0 | . |
FAQ
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