World Super Holdings Ltd Stock Forecast
Red day on Wednesday for World Super Holdings Ltd stock after losing 4.17%
(Updated on May 29, 2024)
The World Super Holdings Ltd stock price fell by -4.17% on the last day (Wednesday, 29th May 2024) from HK$0.0240 to HK$0.0230. During the last trading day the stock fluctuated 4.55% from a day low at HK$0.0220 to a day high of HK$0.0230. The price has been going up and down for this period, and there has been a -4.17% loss for the last 2 weeks. Volume has increased on the last day by 3 million 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, 4 million shares were bought and sold for approximately HK$93.38 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.0217 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.04% during the next 3 months and, with a 90% probability hold a price between HK$0.0208 and HK$0.0273 at the end of this 3-month period.
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8612.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 4.55%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. World Super Holdings Ltd 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 World Super Holdings Ltd stock
World Super Holdings Ltd finds support from accumulated volume at HK$0.0220 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0010 between high and low, or 4.55%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8612.HK) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect World Super Holdings Ltd to open at HK$0.0227, and during the day (based on 14 day Average True Range), to move between HK$0.0215 and HK$0.0245, which gives a possible trading interval of +/-HK$0.0015 (+/-6.57%) up or down from last closing price. If World Super Holdings Ltd takes out the full calculated possible swing range there will be an estimated 13.15% 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$0.0240 (4.35%) than the support at HK$0.0220 (4.35%), 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 World Super Holdings Ltd stock A Buy?
World Super Holdings 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.
Current score: -1.596 Sell Candidate Unchanged
Predicted Opening Price for World Super Holdings Ltd of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| HK$0.0227 ( 1.45%) | HK$0.0230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8612.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0237 | 2.90 % | |
| R2 | 0.0233 | 1.24 % | ||
| R1 | 0.0230 | 0.212 % | ||
| Current price: | 0.0230 | |||
| Support | S1 | 0.0223 | -3.11 % | |
| S2 | 0.0220 | -4.14 % | ||
| S3 | 0.0217 | -5.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0270 | 17.39 % | |
| R2 | 0.0250 | 8.70 % | ||
| R1 | 0.0240 | 4.35 % | ||
| Current price | 0.0230 | |||
| Support | S1 | 0.0220 | -4.35% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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