Huakang Biomedical Holdings Co Ltd Stock Forecast
Huakang Biomedical Holdings Co Ltd stock price down 1.03% on Thursday
(Updated on Jun 20, 2024)
The Huakang Biomedical Holdings Co Ltd stock price fell by -1.03% on the last day (Thursday, 20th Jun 2024) from HK$0.0970 to HK$0.0960. During the last trading day the stock fluctuated 1.04% from a day low at HK$0.0960 to a day high of HK$0.0970. The price has fallen in 5 of the last 10 days but is still up by 5.49% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -72 thousand shares and in total, 16 thousand shares were bought and sold for approximately HK$1.54 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 -23.79% during the next 3 months and, with a 90% probability hold a price between HK$0.0574 and HK$0.0785 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
The Huakang Biomedical Holdings Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.0949 and HK$0.0949. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 13, 2024, and so far it has fallen -3.03%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. 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$0.0950 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0010 between high and low, or 1.04%. For the last week the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: HK$0.0919 (-4.26%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (8622.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Huakang Biomedical Holdings Company Limited to open at HK$0.0963, and during the day (based on 14 day Average True Range), to move between HK$0.0910 and HK$0.101, which gives a possible trading interval of +/-HK$0.0050 (+/-5.22%) 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 10.44% 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$0.0950 (1.04%) than the resistance at HK$0.0980 (2.08%), 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 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: -0.908 Hold/Accumulate Unchanged
Predicted Opening Price for Huakang Biomedical Holdings Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.0963 ( 0.347%) | HK$0.0960 |
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 | |
|---|---|---|
| R3 | 0.0973 | 1.39% |
| R2 | 0.0970 | 0.99% |
| R1 | 0.0967 | 0.745% |
| Price | 0.0960 | |
| S1 | 0.0960 | -0.0507% |
| S2 | 0.0957 | -0.297% |
| S3 | 0.0953 | -0.694% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.119 | 23.96% |
| R2 | 0.118 | 22.92% |
| R1 | 0.0980 | 2.08% |
| Price | 0.0960 | |
| S1 | 0.0950 | -1.04% |
| S2 | 0.0910 | -5.21% |
| S3 | 0.0900 | -6.25% |
FAQ
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