CK Hutchison Holdings Limited Stock Forecast
Green day on Thursday for CK Hutchison Holdings Limited stock after gaining 0.265%
(Updated on Mar 28, 2024)
The CK Hutchison Holdings Limited stock price gained 0.265% on the last trading day (Thursday, 28th Mar 2024), rising from HK$37.70 to HK$37.80. During the last trading day the stock fluctuated 1.86% from a day low at HK$37.60 to a day high of HK$38.30. The price has fallen in 8 of the last 10 days and is down by -9.13% for this period. Volume fell on the last day by -2 million shares and in total, 8 million shares were bought and sold for approximately HK$295.90 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.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$37.55 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect CK Hutchison Holdings Limited stock with a 90% probability to be traded between HK$36.85 and HK$41.49 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0001.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 0.265%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CK Hutchison Holdings Limited stock 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$38.84 and HK$40.60. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CK Hutchison Holdings Limited stock
CK Hutchison Holdings Limited finds support from accumulated volume at HK$37.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.700 between high and low, or 1.86%. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0001.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect CK Hutchison Holdings Limited to open at HK$37.90, and during the day (based on 14 day Average True Range), to move between HK$36.95 and HK$38.65, which gives a possible trading interval of +/-HK$0.85 (+/-2.24%) up or down from last closing price. If CK Hutchison Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$37.70 (0.26%) than the resistance at HK$40.40 (6.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CK Hutchison Holdings Limited stock A Buy?
CK Hutchison Holdings Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.791 Sell Candidate Unchanged
Predicted Opening Price for CK Hutchison Holdings Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$37.90 ( 0.265%) | HK$37.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0001.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.60 | 2.12 % | |
R2 | 38.33 | 1.41 % | ||
R1 | 38.17 | 0.97 % | ||
Current price: | 37.80 | |||
Support | S1 | 37.63 | -0.443 % | |
S2 | 37.47 | -0.88 % | ||
S3 | 37.20 | -1.59 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.05 | 8.60 % | |
R2 | 40.65 | 7.54 % | ||
R1 | 40.40 | 6.88 % | ||
Current price | 37.80 | |||
Support | S1 | 37.70 | -0.265% | |
S2 | 0 | . | ||
S3 | 0 | . |
0001 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 23, 2023 | May 23, 2023 | May 23, 2023 | HK$2.09 | 4.31% |
2 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | HK$0.84 | 1.72% |
3 | May 24, 2022 | May 24, 2022 | May 24, 2022 | HK$1.86 | 3.43% |
4 | Sep 06, 2021 | Sep 06, 2021 | Sep 06, 2021 | HK$0.80 | 1.43% |
5 | May 18, 2021 | May 18, 2021 | May 18, 2021 | HK$1.70 | 2.74% |
FAQ
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