Akeso, Inc. Stock Forecast
Red day on Wednesday for Akeso, Inc. stock after losing 3.15%
(Updated on Jun 19, 2024)
The Akeso, Inc. stock price fell by -3.15% on the last day (Wednesday, 19th Jun 2024) from HK$38.10 to HK$36.90. During the last trading day the stock fluctuated 6.46% from a day low at HK$36.35 to a day high of HK$38.70. The price has fallen in 7 of the last 10 days and is down by -16.52% for this period. Volume has increased on the last day by 2 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, 10 million shares were bought and sold for approximately HK$381.13 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$34.85 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.68% during the next 3 months and, with a 90% probability hold a price between HK$37.88 and HK$50.41 at the end of this 3-month period.
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9926.HK Signals & Forecast
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 Akeso, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$39.10 and HK$39.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -9.56%. 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 Akeso, Inc. stock
Akeso, Inc. finds support from accumulated volume at HK$35.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$2.35 between high and low, or 6.46%. For the last week the stock has had daily average volatility of 4.89%.
Our recommended stop-loss: HK$35.13 (-4.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (9926.HK) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Akeso, Inc. to open at HK$37.32, and during the day (based on 14 day Average True Range), to move between HK$32.80 and HK$41.00, which gives a possible trading interval of +/-HK$4.10 (+/-11.12%) up or down from last closing price. If Akeso, Inc. takes out the full calculated possible swing range there will be an estimated 22.23% 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$37.05 (0.41%) than the support at HK$35.40 (4.07%), 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 Akeso, Inc. stock A Buy?
Akeso, Inc. 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 Akeso, Inc. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| HK$37.32 ( 1.13%) | HK$36.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9926.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.67 | 7.50% |
| R2 | 38.77 | 5.06% |
| R1 | 38.21 | 3.56% |
| Price | 36.90 | |
| S1 | 36.42 | -1.30% |
| S2 | 35.86 | -2.81% |
| S3 | 34.97 | -5.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.20 | 19.78% |
| R2 | 44.00 | 19.24% |
| R1 | 37.05 | 0.407% |
| Price | 36.90 | |
| S1 | 35.40 | -4.07% |
| S2 | 34.30 | -7.05% |
| S3 | 31.80 | -13.82% |
FAQ
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