CLP Holdings Limited Stock Forecast
Green day on Friday for CLP Holdings Limited stock after gaining 0.160%
(Updated on May 03, 2024)
The CLP Holdings Limited stock price gained 0.160% on the last trading day (Friday, 3rd May 2024), rising from HK$62.45 to HK$62.55. During the last trading day the stock fluctuated 0.88% from a day low at HK$62.30 to a day high of HK$62.85. The price has risen in 6 of the last 10 days and is up by 4.25% 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, 430 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$117.74 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$63.21 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.70% during the next 3 months and, with a 90% probability hold a price between HK$55.04 and HK$58.97 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
Mostly positive signals in the chart today. The CLP Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$62.37 and HK$62.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.77%. 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.
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$0.550 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 1.35%.
Our recommended stop-loss: HK$59.55 (-4.79%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (0002.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect CLP Holdings Limited to open at HK$62.57, and during the day (based on 14 day Average True Range), to move between HK$61.44 and HK$63.66, which gives a possible trading interval of +/-HK$1.11 (+/-1.77%) up or down from last closing price. If CLP Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.54% 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 (1.44%) than the resistance at HK$63.95 (2.24%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.164 Buy Candidate Unchanged
Predicted Opening Price for CLP Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$62.57 ( 0.0266%) | HK$62.55 |
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 | 63.12 | 0.91 % | |
| R2 | 62.91 | 0.570 % | ||
| R1 | 62.78 | 0.363 % | ||
| Current price: | 62.55 | |||
| Support | S1 | 62.36 | -0.309 % | |
| S2 | 62.23 | -0.517 % | ||
| S3 | 62.02 | -0.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.35 | 7.67 % | |
| R2 | 65.25 | 4.32 % | ||
| R1 | 63.95 | 2.24 % | ||
| Current price | 62.55 | |||
| Support | S1 | 61.65 | -1.44% | |
| S2 | 61.50 | -1.68% | ||
| S3 | 60.00 | -4.08% |
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% |
FAQ
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