Breakout Stocks of Week 19 @ HKEX
NASDAQ was up last week (week 18) by 1.43% ending at 16,156.33 points after gaining 228.43 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 China Power International Development Limited HKEX:2380. This stock has had a buy signal since Apr 30, 2024 when the price was HK$3.16 , but have so far fallen 0% to HK$3.16. Some other companies are on our watchlist to, among these are Sinotruk (Hong Kong) Limited HKEX:3808 BE-BMJHTUETF/UT HKD HKEX:3160 and Tibet Water Resources Ltd. HKEX:1115 which all got a breakout pattern emerging.
| Date | Company | Price | Week 19 |
|---|---|---|---|
| China Power International Development Limited | HK$3.16 | HK$3.40 | 7.59% |
| Sinotruk (hong Kong) Limited | HK$19.74 | HK$20.20 | 2.33% |
| Be-bmjhtuetf/ut Hkd | HK$20.30 | HK$20.50 | 0.99% |
| Tibet Water Resources Ltd. | HK$0.245 | HK$0.275 | 12.24% |
The China Power International Development stock price gained 0.96% on the last trading day (Friday, 3rd May 2024), rising from HK$3.13 to HK$3.16. During the last trading day the stock fluctuated 1.60% from a day low at HK$3.13 to a day high of HK$3.18. The price has fallen in 5 of the last 10 days and is down by -0.63% for this period. Volume fell on the last day by -9 million shares and in total, 13 million shares were bought and sold for approximately HK$40.50 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.
China Power International Development 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 China Power International Development Limited:
China Power International Development Limited, an investment holding company, develops, constructs, owns, operates, and manages power plants in the People's Republic of China. The company operates through Coal-Fired Electricity, Hydropower Electricity, and Photovoltaic Power Electricity segments. It generates, distributes, and sells electricity through coal-fired, hydro, wind, and photovoltaic power plants. The company provides coal management and consultancy, and logistic services; and owns and operates hotels. China Power International Development Limited was incorporated in 2004 and is based in Wan Chai, Hong Kong.
The Sinotruk (Hong Kong) Limited stock price gained 0.714% on the last trading day (Friday, 3rd May 2024), rising from HK$19.60 to HK$19.74. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.30% from a day low at HK$19.32 to a day high of HK$20.15. The price has risen in 6 of the last 10 days but is still down by -10.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 578 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately HK$56.84 million.
Sinotruk (Hong Kong) Limited 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.
About Sinotruk (Hong Kong) Limited:
Sinotruk (Hong Kong) Limited, an investment holding company, engages in the research, development, manufacture, and sale of heavy-duty trucks (HDTs), medium-heavy duty trucks, light duty trucks (LDTs), buses, and related parts and components in Mainland China and internationally. The company operates through four segments: Heavy Duty Trucks, Light Duty Trucks and Others, Engines, and Finance. It offers specialty vehicles; industrial and construction machinery engines; HDT and LDT engines; and HDT key assemblies, such as gearboxes and various types of casting and forging, as well as cabins, axles, and steel frames. The company also provides axle and transmission parts and truck refitting services; deposit taking, borrowings, bank bills discounting, auto and supply chain financing, issue of bills, entrusted loans and investment, and customer credit services; loans; and consultation and strategic planning services. In addition, it imports and exports trucks and spare parts; manufactures and reproduces engines; and researches, develops, manufactures, and sells commercial vehicles. Sinotruk (Hong Kong) Limited serves infrastructure, construction, container transportation, logistic, mining, steel, chemical, and other industries. The company was incorporated in 2007 and is headquartered in Jinan, China. Sinotruk (Hong Kong) Limited is a subsidiary of China National Heavy Duty Truck Group Company Limited.
The BE-BMJHTUETF/UT HKD stock price fell by -1.07% on the last day (Friday, 3rd May 2024) from HK$20.52 to HK$20.30. During the last trading day the stock fluctuated 0.593% from a day low at HK$20.24 to a day high of HK$20.36. The price has risen in 6 of the last 10 days and is up by 0.79% over the past 2 weeks. Volume has increased on the last day by 1 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, 2 million shares were bought and sold for approximately HK$30.65 million.
The BE-BMJHTUETF/UT HKD stock holds several negative signals and despite the positive trend, we believe BE-BMJHTUETF/UT HKD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About BE-BMJHTUETF/UT HKD:
ChinaAMC MSCI Japan Hedged to USD ETF is an exchange traded fund launched and managed by BMO Global Asset Management (Asia) Limited. The fund invests in the public equity markets of Japan. It invests directly and also through derivatives such as one-month forward contracts to invest in the stocks of companies operating across diversified sectors. The fund invests in the stocks of large-cap and mid-cap companies, the returns being hedged to US Dollars. It seeks to replicate the performance of the MSCI Japan 100% Hedged to USD Index, by investing in the stocks of companies as per their weightings in the index. ChinaAMC MSCI Japan Hedged to USD ETF was formed on February 11, 2016 and is domiciled in Hong Kong.
The Tibet Water Resources Ltd. stock price fell by -7.55% on the last day (Friday, 3rd May 2024) from HK$0.265 to HK$0.245. During the last trading day the stock fluctuated 8.51% from a day low at HK$0.235 to a day high of HK$0.255. The price has fallen in 5 of the last 10 days and is down by -10.91% for this period. Volume has increased on the last day by 12 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, 86 million shares were bought and sold for approximately HK$21.16 million.
The Tibet Water Resources Ltd. stock holds several negative signals and despite the positive trend, we believe Tibet Water Resources Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Tibet Water Resources Ltd.:
Tibet Water Resources Ltd., an investment holding company, manufactures fast-consuming beverages in the People's Republic of China. It operates in two segments, Water and Beer. The Water segment manufactures and sells a range of water products through wholesales under the 5100 Glacial Water, Highland Barley Beer, Zhuoma Spring, and Gesang Spring brand names; sells raw materials and consumables to associates and third parties; leases production lines and a plant to associates; and provides lending services to third parties in Hong Kong with relevant license. The Beer segment offers various beer products through wholesales under the Tibet Green Barley Beer brand name. The company also engages in the marketing, promotion, distribution, and retailing of water products; and investment in culture, entertainment, consumer product, retail business, and related industries. It sells its products through retail outlets, hotels, bars, restaurants, supermarkets, and convenience, as well as through e-commerce platforms. The company was formerly known as Tibet 5100 Water Resources Holdings Ltd. and changed its name to Tibet Water Resources Ltd. in December 2015. Tibet Water Resources Ltd. was founded in 2006 and is headquartered in Admiralty, Hong Kong.
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.
