Breakout Stocks of Week 27 @ HKEX
NASDAQ was up last week (week 26) by 0.244% ending at 17,732.60 points after gaining 43.24 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Binhai Investment Company Limited HKEX:2886. This stock has had a buy signal since Jun 24, 2024 when the price was HK$1.23 , but have so far fallen 0% to HK$1.23. Some other companies are on our watchlist to, among these are Shandong Xinhua Pharmaceutical Company Limited HKEX:0719 Livzon Pharmaceutical Group Inc. HKEX:1513 Bank of Qingdao Co., Ltd. HKEX:3866 and Jinchuan Group International Resources Co. Ltd HKEX:2362 which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Binhai Investment Company Limited | HK$1.23 | HK$1.23 ( 2nd Jul 2024 ) | 0% |
| Shandong Xinhua Pharmaceutical Company Limited | HK$5.39 | HK$5.40 ( 2nd Jul 2024 ) | 0.186% |
| Livzon Pharmaceutical Group Inc. | HK$25.70 | HK$25.55 ( 2nd Jul 2024 ) | -0.584% |
| Bank Of Qingdao Co., Ltd. | HK$2.33 | HK$2.40 ( 2nd Jul 2024 ) | 3.00% |
| Jinchuan Group International Resources Co. Ltd | HK$0.83 | HK$0.770 ( 2nd Jul 2024 ) | -7.23% |
The Binhai Investment Company Limited stock price gained 0.82% on the last trading day (Friday, 28th Jun 2024), rising from HK$1.22 to HK$1.23. During the last trading day the stock fluctuated 1.65% from a day low at HK$1.21 to a day high of HK$1.23. The price has fallen in 5 of the last 10 days and is down by -3.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 238 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$2.50 million.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Binhai Investment Company Limited stock to perform well in the short-term.
About Binhai Investment Company Limited:
Binhai Investment Company Limited, an investment holding company, engages in the construction of gas pipeline networks, provision of connection services, and sale of liquefied petroleum gas (LPG) and piped natural gas in Hong Kong. The company operates through Sales of Piped Natural Gas, Construction and Gas Pipeline Installation Service, Gas Passing through Service, and Sales of Bottled Natural Gas segments. It also sells piped and bottled natural gas through its pipeline networks to residential and industrial users. In addition, the company constructs gas pipelines, as well as offers construction and gas pipeline installation services to industrial and commercial customers, property developers, and property management companies. As of December 31, 2021, it had a gas pipeline network of approximately 3,574 kilometers. The company also engages in property development business. The company was founded in 1994 and is headquartered in Causeway Bay, Hong Kong.
The Shandong Xinhua Pharmaceutical Co Ltd stock price gained 0.748% on the last trading day (Friday, 28th Jun 2024), rising from HK$5.35 to HK$5.39. During the last trading day the stock fluctuated 2.26% from a day low at HK$5.31 to a day high of HK$5.43. The price has risen in 6 of the last 10 days but is still down by -1.82% for this period. Volume fell on the last day by -73 thousand shares and in total, 383 thousand shares were bought and sold for approximately HK$2.06 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Livzon Pharmaceutical Group Inc. stock price gained 0.784% on the last trading day (Friday, 28th Jun 2024), rising from HK$25.50 to HK$25.70. During the last trading day the stock fluctuated 1.37% from a day low at HK$25.50 to a day high of HK$25.85. The price has risen in 5 of the last 10 days but is still down by -4.99% for this period. Volume fell on the last day by -292 thousand shares and in total, 297 thousand shares were bought and sold for approximately HK$7.64 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Livzon Pharmaceutical Group 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.
About Livzon Pharmaceutical Group Inc.:
Livzon Pharmaceutical Group Inc. engages in the research, development, production, and sale of pharmaceutical products, and active pharmaceutical ingredients and intermediates in the People's Republic of China. The company offers Ilaprazole enteric coated tablets for the treatment of duodenal ulcers and reflux esophagitis; Laprazole sodium for injection to treat peptic ulcer hemorrhage; Leuprorelin Acetate Microspheres for injection; Urofollitropin for injection to treat anovulation and sufferers; Perospirone Hydrochloride for the treatment of schizophrenia; Anti-viral Granules to treat upper respiratory tract infection and influenza; and Shenqi Fuzheng Injection for the treatment of weakness and tiredness, lassitude, spontaneous sweating, and vertigo, as well as for the patients of lung and stomach cancer. It also offers diagnostic reagents, such as diagnostic kit for IgM/IgG antibody to coronavirus; nucleic acid test kit for human immunodeficiency virus type 1; antinuclear antibody test kits; interferon-gamma release assays test kits; and rapid test for mycoplasma pneumoniae IgM antibody. In addition, the company provides biochemical drugs, microbiological preparations, biologic products, Chinese drug preparations and pharmaceutical raw materials, and antibiotics. It also exports its products. The company was founded in 1985 and is headquartered in Zhuhai, China.
The Bank of Qingdao Co., Ltd. stock price gained 1.75% on the last trading day (Friday, 28th Jun 2024), rising from HK$2.29 to HK$2.33. During the last trading day the stock fluctuated 2.62% from a day low at HK$2.29 to a day high of HK$2.35. The price has risen in 7 of the last 10 days and is up by 4.48% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 392 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$3.62 million.
Bank of Qingdao 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.
About Bank of Qingdao Co., Ltd.:
Bank of Qingdao Co., Ltd. provides various banking products and services in the People's Republic of China. It operates through Retail Banking, Corporate Banking, and Financial Market segments. The company accepts deposits; provides short, mid, and long-term loans; conducts domestic and overseas settlements, as well as acceptance, discounting, and inter-bank discounting of notes; issues financial bonds; and operates as an agent in issuing, cash-in, and underwriting government and financial bonds. It also trades in government bonds, notes of central banks, financial and corporate bonds, mid-term notes, short-term financing coupons, and other bonds issued and circulated in the national interbank bond market; participates in interbank lending and borrowing, and interbank deposit businesses; and performs foreign exchange trading as an agent. In addition, the company provides bank cards, and letters of credit and guarantee; and receipt and payment, and insurance business agency services, as well as other agency services, including funds and sales of precious metals. Further, it engages in the bond settlement agency business and the fixed deposits business of commercial banks for cash management of central treasury; and provision of safe deposit box and wealth management services, as well as in the foreign exchange settlement and sales businesses. As of December 31, 2021, the company operated 103 in-bank self-service banks; and 407 self-service devices, including 19 ATMs, 263 self-service cash deposit and teller machines, and 125 self-service terminals that provide various services, such as withdrawals, deposits, transfers, account enquiries, and payments. The company was formerly known as Qingdao City Commercial Bank Co., Ltd. and changed its name to Bank of Qingdao Co., Ltd. in 2008. Bank of Qingdao Co., Ltd. was founded in 1996 and is headquartered in Qingdao, the People's Republic of China.
The Jinchuan Group International Resources stock price gained 5.06% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.790 to HK$0.83. During the last trading day the stock fluctuated 7.79% from a day low at HK$0.770 to a day high of HK$0.83. The price has been going up and down for this period, and there has been a 1.22% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately HK$13.54 million.
Jinchuan Group International Resources 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.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
