Hui Xian Real Estate Investment Trust Stock Forecast

Hui Xian Real Estate Investment Trust stock downgraded to Sell Candidate
(Updated on May 23, 2024)

87001.HK Signals & Forecast

The Hui Xian Real Estate Investment Trust 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$0.727. On a fall, the stock will find some support from the long-term average at approximately HK$0.669. 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, May 22, 2024, and so far it has fallen -2.70%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Hui Xian Real Estate Investment Trust stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.680 and HK$0.660. 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, Hui Xian Real Estate Investment Trust finds support just below today's level at HK$0.680. If this is broken, then the next support from accumulated volume will be at HK$0.660 and HK$0.630.

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$0.0100 between high and low, or 1.39%. For the last week, the stock has had daily average volatility of 3.62%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (87001.HK) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Hui Xian Real Estate Investment Trust to open at HK$0.723, and during the day (based on 14 day Average True Range), to move between HK$0.699 and HK$0.741, which gives a possible trading interval of +/-HK$0.0205 (+/-2.85%) up or down from last closing price. If Hui Xian Real Estate Investment Trust takes out the full calculated possible swing range there will be an estimated 5.70% 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$0.740 (2.78%) than the support at HK$0.680 (5.56%), 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 Hui Xian Real Estate Investment Trust stock A Buy?

Hui Xian Real Estate Investment Trust 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.868 Sell Candidate Downgraded

Predicted Opening Price for Hui Xian Real Estate Investment Trust of Friday, May 24, 2024

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