CLP Holdings Limited Stock Forecast
Stronger technical forecast for CLP Holdings Limited stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The CLP Holdings Limited stock price gained 1.06% on the last trading day (Wednesday, 24th Apr 2024), rising from HK$61.50 to HK$62.15. It has now gained 3 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 2.05% from a day low at HK$61.05 to a day high of HK$62.30. The price has fallen in 7 of the last 10 days and is down by -1.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 795 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$150.65 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.51% during the next 3 months and, with a 90% probability hold a price between HK$56.86 and HK$61.78 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0002.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CLP 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$62.80. On a fall, the stock will find some support from the short-term average at HK$60.80. 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.
Support, Risk & Stop-loss for CLP Holdings Limited stock
CLP Holdings Limited finds support from accumulated volume at HK$61.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$1.25 between high and low, or 2.05%. For the last week the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: HK$59.25 (-4.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (0002.HK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect CLP Holdings Limited to open at HK$61.83, and during the day (based on 14 day Average True Range), to move between HK$60.93 and HK$63.37, which gives a possible trading interval of +/-HK$1.22 (+/-1.96%) up or down from last closing price. If CLP Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.92% 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$61.65 (0.80%) than the resistance at HK$63.95 (2.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CLP Holdings Limited stock A Buy?
CLP Holdings Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.748 Hold/Accumulate Upgraded
Predicted Opening Price for CLP Holdings Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| HK$61.83 ( 0.510%) | HK$62.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0002.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.08 | 1.50 % | |
| R2 | 62.61 | 0.733 % | ||
| R1 | 62.31 | 0.259 % | ||
| Current price: | 62.15 | |||
| Support | S1 | 61.36 | -1.28 % | |
| S2 | 61.06 | -1.75 % | ||
| S3 | 60.58 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.35 | 8.37 % | |
| R2 | 65.25 | 4.99 % | ||
| R1 | 63.95 | 2.90 % | ||
| Current price | 62.15 | |||
| Support | S1 | 61.65 | -0.80% | |
| S2 | 61.50 | -1.05% | ||
| S3 | 60.00 | -3.46% |
0002 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 08, 2024 | Mar 21, 2024 | HK$1.21 | 1.90% |
| 2 | Dec 04, 2023 | Dec 04, 2023 | Dec 04, 2023 | HK$0 | 0% |
| 3 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.630 | 1.12% |
| 4 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | HK$1.21 | 2.17% |
| 5 | Dec 02, 2022 | Dec 02, 2022 | Dec 02, 2022 | HK$0.630 | 1.15% |
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