Polyfair Holdings Limited Stock Forecast

Polyfair Holdings Limited stock downgraded to Sell Candidate
(Updated on Jun 24, 2024)

8532.HK Signals & Forecast

The Polyfair Holdings 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$0.0480. On a fall, the stock will find some support from the long-term average at approximately HK$0.0430. 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 -6.00%. 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 Polyfair Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0420 and HK$0.0410. 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, Polyfair Holdings Limited finds support just below today's level at HK$0.0420. If this is broken, then the next support from accumulated volume will be at HK$0.0410 and HK$0.0400.

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 2.73%.

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

Trading Expectations (8532.HK) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Polyfair Holdings Limited to open at HK$0.0470, and during the day (based on 14 day Average True Range), to move between HK$0.0453 and HK$0.0487, which gives a possible trading interval of +/-HK$0.0017 (+/-3.67%) up or down from last closing price. If Polyfair Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.34% 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$0.0490 (4.26%) than the support at HK$0.0420 (10.64%), 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 Polyfair Holdings Limited stock A Buy?

Polyfair Holdings 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: -2.411 Sell Candidate Downgraded

Predicted Opening Price for Polyfair Holdings Limited of Tuesday, June 25, 2024

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