Breakout Stocks of Week 25 @ HKEX
NASDAQ was up last week (week 24) by 3.24% ending at 17,688.88 points after gaining 555.76 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 TCL Electronics Holdings Limited HKEX:1070. This stock has had a buy signal since Apr 02, 2024 when the price was HK$3.57 and is so far up 81.79% to HK$6.49. Some other companies are on our watchlist to, among these are Beijing Energy International Holding Co., Ltd. HKEX:0686 SHK Hong Kong Industries Limited HKEX:0666 West China Cement Limited HKEX:2233 and ISHARES FTSEA50/UT HKD HKEX:2823 which all got a breakout pattern emerging.
| Date | Company | Price | Week 25 |
|---|---|---|---|
| Tcl Electronics Holdings Limited | HK$6.49 | HK$6.75 | 4.01% |
| Beijing Energy International Holding Co., Ltd. | HK$0.208 | HK$0.223 | 7.21% |
| Shk Hong Kong Industries Limited | HK$14.36 | HK$14.16 | -1.39% |
| West China Cement Limited | HK$1.09 | HK$1.03 | -5.50% |
| Ishares Ftsea50/ut Hkd | HK$12.48 | HK$12.28 | -1.60% |
The TCL Electronics Holdings Limited stock price gained 7.81% on the last trading day (Friday, 14th Jun 2024), rising from HK$6.02 to HK$6.49. During the last trading day the stock fluctuated 8.33% from a day low at HK$6.00 to a day high of HK$6.50. The price has fallen in 5 of the last 10 days but is still up by 13.07% 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, 18 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately HK$139.93 million.
TCL Electronics Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About TCL Electronics Holdings Limited:
TCL Electronics Holdings Limited, an investment holding company, operates as a consumer electronics company in the People's Republic of China, Europe, North America, and internationally. It operates through four segments: Smart screen; Internet Business; Smart Mobile, Connective Devices, and Service; and Smart Commercial Display, Smart Home, and Other Businesses. The company manufactures and sells color television (TV) sets under the TCL brand; provides advertising vertical application, video-on-demand, and membership card services. It also engages in the manufacture and sale of smart mobile, smart connective devices, smart commercial display, smart home products, and other household products; trading of TV products, components, and white goods; research and development of software on smart TV devices, and mobile devices; and operation of the Internet platform, as well as distribution of mobile devices and components. The company was formerly known as TCL Multimedia Technology Holdings Limited and changed its name to TCL Electronics Holdings Limited in June 2018. The company is based in Sha Tin, Hong Kong. TCL Electronics Holdings Limited is a subsidiary of TCL Technology Group Corporation.
Beijing Energy International Holding Co., Ltd.
HKEX:0686The Beijing Energy International Holding stock price gained 1.46% on the last trading day (Friday, 14th Jun 2024), rising from HK$0.205 to HK$0.208. During the last trading day the stock fluctuated 4.00% from a day low at HK$0.200 to a day high of HK$0.208. The price has risen in 6 of the last 10 days and is up by 10.64% 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, 9 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately HK$3.03 million.
Beijing Energy International Holding holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
The SHK Hong Kong Industries Limited stock price gained 0.420% on the last trading day (Friday, 14th Jun 2024), rising from HK$14.30 to HK$14.36. During the last trading day the stock fluctuated 2.68% from a day low at HK$14.20 to a day high of HK$14.58. The price has been going up and down for this period, and there has been a -3.36% loss for the last 2 weeks. Volume fell on the last day by -30 thousand shares and in total, 156 thousand shares were bought and sold for approximately HK$2.24 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 West China Cement Limited stock price fell by -1.80% on the last day (Friday, 14th Jun 2024) from HK$1.11 to HK$1.09. During the last trading day the stock fluctuated 2.75% from a day low at HK$1.09 to a day high of HK$1.12. The price has been going up and down for this period, and there has been a -1.8% loss for the last 2 weeks. Volume has increased on the last day by 4 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, 9 million shares were bought and sold for approximately HK$10.13 million.
West China Cement Limited 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 West China Cement Limited:
West China Cement Limited, an investment holding company, manufactures and sells cement and cement products in the People's Republic of China. It sells its products under the Yao Bai and Yaobaishuini names. The company's cement products are used in the construction of infrastructure projects, such as highways, railways, bridges, hydroelectric power stations, and water conservancy and water transfer projects, as well as housing and social infrastructure projects. It also engages in financial leasing and transportation businesses. The company is headquartered in Xi'an, the People's Republic of China.
The ISHARES FTSEA50/UT HKD stock price gained 0.402% on the last trading day (Friday, 14th Jun 2024), rising from HK$12.43 to HK$12.48. During the last trading day the stock fluctuated 1.86% from a day low at HK$12.34 to a day high of HK$12.57. The price has fallen in 6 of the last 10 days and is down by -2.19% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately HK$45.01 million.
ISHARES FTSEA50/UT HKD 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 ISHARES FTSEA50/UT HKD:
iShares Asia Trust - iShares FTSE A50 China Index ETF is an exchange traded fund launched and managed by BlackRock Asset Management North Asia Limited. It invests in the public equity markets of China. The fund uses derivatives such as swaps and China A-Share access products to invest in the stocks of companies operating across diversified sectors. It invests in the stocks of large cap companies. The fund seeks to replicate the performance of the FTSE China A50 Index, by employing synthetic replication methodology. It was formerly known as iShares Asia Trust - iShares FTSE/Xinhau A50 China Index ETF. iShares Asia Trust - iShares FTSE A50 China Index ETF was formed on December 13, 2003 and is domiciled in 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.
