TL Natural Gas Holdings Limited Stock Forecast

Red day on Friday for TL Natural Gas Holdings Limited
(Updated on May 17, 2024)

8536.HK Signals & Forecast

The TL Natural Gas Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.596 and HK$0.543. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 7.02%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). TL Natural Gas 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 TL Natural Gas Holdings Limited stock

TL Natural Gas Holdings Limited finds support from accumulated volume at HK$0.580 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0200 between high and low, or 3.33%. For the last week, the stock has had daily average volatility of 1.68%.

Our recommended stop-loss: HK$0.589 (-3.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (8536.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect TL Natural Gas Holdings Limited to open at HK$0.610, and during the day (based on 14 day Average True Range), to move between HK$0.557 and HK$0.663, which gives a possible trading interval of +/-HK$0.0531 (+/-8.71%) up or down from last closing price. If TL Natural Gas Holdings Limited takes out the full calculated possible swing range there will be an estimated 17.42% 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$0.580 (4.92%) than the resistance at HK$0.690 (13.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is TL Natural Gas Holdings Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.051 Buy Candidate Unchanged

Predicted Opening Price for TL Natural Gas Holdings Limited of Monday, May 20, 2024

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