CK Hutchison Holdings Limited Stock Forecast
CK Hutchison Holdings Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 19, 2024)
The CK Hutchison Holdings Limited stock price gained 1.89% on the last trading day (Wednesday, 19th Jun 2024), rising from HK$37.00 to HK$37.70. During the last trading day the stock fluctuated 1.61% from a day low at HK$37.25 to a day high of HK$37.85. The price has fallen in 7 of the last 10 days and is down by -2.58% for this period. Volume fell on the last day by -3 million shares and in total, 4 million shares were bought and sold for approximately HK$132.15 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 lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.07% during the next 3 months and, with a 90% probability hold a price between HK$36.97 and HK$43.65 at the end of this 3-month period.
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0001.HK Signals & Forecast
There are mixed signals in the stock today. The CK Hutchison Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$39.51. On a fall, the stock will find some support from the short-term average at HK$37.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 3.01%. 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.
Support, Risk & Stop-loss for CK Hutchison Holdings Limited stock
CK Hutchison Holdings Limited finds support from accumulated volume at HK$37.25 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$0.600 between high and low, or 1.61%. For the last week, the stock has had daily average volatility of 1.79%.
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 Thursday 20th
For the upcoming trading day on Thursday, 20th we expect CK Hutchison Holdings Limited to open at HK$37.60, and during the day (based on 14 day Average True Range), to move between HK$36.86 and HK$38.54, which gives a possible trading interval of +/-HK$0.84 (+/-2.22%) 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 4.44% 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$38.10 (1.06%) than the support at HK$37.25 (1.19%), 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 CK Hutchison Holdings Limited stock A Buy?
CK Hutchison Holdings 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.272 Sell Candidate Downgraded
Predicted Opening Price for CK Hutchison Holdings Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| HK$37.60 ( 0.265%) | HK$37.70 |
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 | |
|---|---|---|
| R3 | 38.20 | 1.33% |
| R2 | 37.97 | 0.718% |
| R1 | 37.83 | 0.343% |
| Price | 37.70 | |
| S1 | 37.37 | -0.87% |
| S2 | 37.23 | -1.25% |
| S3 | 37.00 | -1.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.65 | 2.52% |
| R2 | 38.25 | 1.46% |
| R1 | 38.10 | 1.06% |
| Price | 37.70 | |
| S1 | 37.25 | -1.19% |
| S2 | 37.00 | -1.86% |
| S3 | 36.60 | -2.92% |
0001 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | Jun 13, 2024 | HK$1.78 | 4.75% |
| 2 | Sep 04, 2023 | Sep 04, 2023 | Sep 14, 2023 | HK$0.756 | 1.82% |
| 3 | May 23, 2023 | May 23, 2023 | May 23, 2023 | HK$2.09 | 4.31% |
| 4 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | HK$0.84 | 1.72% |
| 5 | May 24, 2022 | May 24, 2022 | May 24, 2022 | HK$1.86 | 3.43% |
FAQ
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