ARS/HKD Currency Pair Forecast
Stronger technical forecast for ARS/HKD currency pair price after Friday trading.
(Updated on Jun 28, 2024)
The ARS/HKD currency pair price fell by -0.0037% on the last day (Friday, 28th Jun 2024) from HK$0.0055 to HK$0.0055. During the last trading day the currency pair fluctuated 0.0439% from a day low at HK$0.0055 to a day high of HK$0.0055. The price has fallen in 6 of the last 10 days and is down by -1.44% for this period. Volume fell on the last day along with the currency pair, which is actually a good sign as volume should follow the currency pair. On the last day, the trading volume fell by -3 thousand shares and in total, 82 thousand shares were bought and sold for approximately HK$445.97 .
The currency pair 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 currency pair is expected to fall -30.78% during the next 3 months and, with a 90% probability hold a price between HK$0.0032 and HK$0.0057 at the end of this 3-month period.
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ARSHKD Signals & Forecast
There are mixed signals in the currency pair today. The ARS/HKD currency pair 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$0.0055 and HK$0.0074. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair 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. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.0476%. 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).
A sell signal from a double top formation was found on Sunday, June 16, 2024 and based on theory for this formation the price should fall by -38.60% to HK$0.0034 within 7 trading days since signal was issued (Wednesday, June 26, 2024).
Support, Risk & Stop-loss for ARS/HKD currency pair
ARS/HKD finds support from accumulated volume at HK$0.0055 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This currency pair may move very much during the day (volatility) and with periodic low trading volume this currency pair is considered to be "very high risk". During the last day, the currency pair moved HK$0.0000024 between high and low, or 0.0439%. For the last week the currency pair has had daily average volatility of 0.330%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARSHKD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ARS/HKD to open at HK$0.0055, and during the day (based on 14 day Average True Range), to move between HK$0.0050 and HK$0.0059, which gives a possible trading interval of +/-HK$0.0005 (+/-8.64%) up or down from last closing price. If ARS/HKD takes out the full calculated possible swing range there will be an estimated 17.28% 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$0.0055 (0.00%) than the support at HK$0.0055 (0.03%), 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 ARS/HKD currency pair A Buy?
ARS/HKD 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 currency pair. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.951 Sell Candidate Upgraded
Predicted Opening Price for ARS/HKD of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| HK$0.0055 ( 0.0049%) | HK$0.0055 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARSHKD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0055 | 0.0390% |
| R2 | 0.0055 | 0.0223% |
| R1 | 0.0055 | 0.0119% |
| Price | 0.0055 | |
| S1 | 0.0055 | -0.0217% |
| S2 | 0.0055 | -0.0320% |
| S3 | 0.0055 | -0.0488% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0055 | 1.45% |
| R2 | 0.0055 | 1.44% |
| R1 | 0.0055 | 0.0037% |
| Price | 0.0055 | |
| S1 | 0.0055 | -0.0293% |
| S2 | 0.0055 | -0.0439% |
| S3 | 0.0055 | -0.0476% |
FAQ
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