Polyfair Holdings Limited Stock Forecast
Polyfair Holdings Limited stock price ended at HK$0.0460 on Friday, after losing 2.13%.
(Updated on Jun 28, 2024)
The Polyfair Holdings Limited stock price fell by -2.13% on the last day (Friday, 28th Jun 2024) from HK$0.0470 to HK$0.0460. During the last trading day the stock fluctuated 4.44% from a day low at HK$0.0450 to a day high of HK$0.0470. The price has risen in 4 of the last 10 days and is up by 15% over the past 2 weeks. Volume has increased on the last day by 336 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 336 thousand shares were bought and sold for approximately HK$15.46 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.92% during the next 3 months and, with a 90% probability hold a price between HK$0.0322 and HK$0.0435 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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$0.0476. On a fall, the stock will find some support from the long-term average at approximately HK$0.0433. 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 -8.00%. Further fall is indicated until a new bottom pivot has been found. Polyfair Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0020 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 0.89%.
Our recommended stop-loss: HK$0.0441 (-4.20%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (8532.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Polyfair Holdings Limited to open at HK$0.0460, and during the day (based on 14 day Average True Range), to move between HK$0.0444 and HK$0.0476, which gives a possible trading interval of +/-HK$0.0016 (+/-3.57%) up or down from last closing price. If Polyfair Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.14% 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$0.0470 (2.17%) than the support at HK$0.0420 (8.70%), 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 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Polyfair Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.0460 ( 0.00000000%) | HK$0.0460 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8532.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0480 | 4.35% |
| R2 | 0.0472 | 2.69% |
| R1 | 0.0468 | 1.66% |
| Price | 0.0460 | |
| S1 | 0.0452 | -1.66% |
| S2 | 0.0448 | -2.69% |
| S3 | 0.0440 | -4.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0510 | 10.87% |
| R2 | 0.0490 | 6.52% |
| R1 | 0.0470 | 2.17% |
| Price | 0.0460 | |
| S1 | 0.0420 | -8.70% |
| S2 | 0.0410 | -10.87% |
| S3 | 0.0400 | -13.04% |
FAQ
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