Huakang Biomedical Holdings Co Ltd Stock Forecast
Huakang Biomedical Holdings Co Ltd stock price down 3.88% on Friday
(Updated on May 24, 2024)
The Huakang Biomedical Holdings Co Ltd stock price fell by -3.88% on the last day (Friday, 24th May 2024) from HK$0.103 to HK$0.0990. During the last trading day the stock fluctuated 1.01% from a day low at HK$0.0990 to a day high of HK$0.100. The price has been going up and down for this period, and there has been a 7.61% gain for the last 2 weeks. Volume has increased on the last day by 8 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, 8 thousand shares were bought and sold for approximately HK$792.00 .
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 -26.53% during the next 3 months and, with a 90% probability hold a price between HK$0.0617 and HK$0.0803 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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8622.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 10.00%. 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. The Huakang Biomedical Holdings Co 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$0.102 and HK$0.104. A break-up above any of these levels will issue buy signals. Huakang Biomedical Holdings Co 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 Huakang Biomedical Holdings Co Ltd stock
Huakang Biomedical Holdings Co Ltd finds support from accumulated volume at HK$0.0980 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 1.01%. For the last week, the stock has had daily average volatility of 0.202%.
Our recommended stop-loss: HK$0.0957 (-3.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (8622.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Huakang Biomedical Holdings Company Limited to open at HK$0.0993, and during the day (based on 14 day Average True Range), to move between HK$0.0948 and HK$0.103, which gives a possible trading interval of +/-HK$0.0042 (+/-4.25%) up or down from last closing price. If Huakang Biomedical Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 8.51% 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$0.0980 (1.01%) than the resistance at HK$0.118 (19.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Huakang Biomedical Holdings Company Limited stock A Buy?
Huakang Biomedical Holdings Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Huakang Biomedical Holdings Company Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.0993 ( 0.337%) | HK$0.0990 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8622.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.100 | 1.35 % | |
| R2 | 0.1000 | 0.96 % | ||
| R1 | 0.0997 | 0.723 % | ||
| Current price: | 0.0990 | |||
| Support | S1 | 0.0990 | -0.0492 % | |
| S2 | 0.0987 | -0.288 % | ||
| S3 | 0.0983 | -0.673 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.121 | 22.22 % | |
| R2 | 0.119 | 20.20 % | ||
| R1 | 0.118 | 19.19 % | ||
| Current price | 0.0990 | |||
| Support | S1 | 0.0980 | -1.01% | |
| S2 | 0.0950 | -4.04% | ||
| S3 | 0.0910 | -8.08% |
FAQ
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