Hang Seng Bank Limited Stock Forecast
Evaluation of Hang Seng Bank Limited stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The Hang Seng Bank Limited stock price gained 0.299% on the last trading day (Tuesday, 2nd Jul 2024), rising from HK$100.40 to HK$100.70. During the last trading day the stock fluctuated 2.30% from a day low at HK$100.20 to a day high of HK$102.50. The price has fallen in 6 of the last 10 days and is down by -6.24% for this period. Volume fell on the last day by -433 thousand shares and in total, 2 million shares were bought and sold for approximately HK$209.77 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$100.59 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.50% during the next 3 months and, with a 90% probability hold a price between HK$111.16 and HK$133.08 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0011.HK Signals & Forecast
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 Hang Seng Bank 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$101.61 and HK$108.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -12.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hang Seng Bank Limited stock
Hang Seng Bank Limited finds support from accumulated volume at HK$99.70 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$2.30 between high and low, or 2.30%. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0011.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Hang Seng Bank Limited to open at HK$101.13, and during the day (based on 14 day Average True Range), to move between HK$98.20 and HK$103.20, which gives a possible trading interval of +/-HK$2.50 (+/-2.48%) up or down from last closing price. If Hang Seng Bank Limited takes out the full calculated possible swing range there will be an estimated 4.97% 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$99.70 (0.99%) than the resistance at HK$102.60 (1.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hang Seng Bank Limited stock A Buy?
The Hang Seng Bank Limited stock holds several negative signals and despite the positive trend, we believe Hang Seng Bank Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.567 Sell Candidate Downgraded
Predicted Opening Price for Hang Seng Bank Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$101.13 ( 0.430%) | HK$100.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0011.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 103.43 | 2.71% |
| R2 | 102.55 | 1.84% |
| R1 | 102.01 | 1.30% |
| Price | 100.70 | |
| S1 | 100.25 | -0.442% |
| S2 | 99.71 | -0.98% |
| S3 | 98.83 | -1.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 108.60 | 7.85% |
| R2 | 105.00 | 4.27% |
| R1 | 102.60 | 1.89% |
| Price | 100.70 | |
| S1 | 99.70 | -0.99% |
| S2 | 95.15 | -5.51% |
| S3 | 94.05 | -6.60% |
0011 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | Jun 06, 2024 | HK$1.20 | 1.10% |
| 2 | Mar 05, 2024 | Mar 05, 2024 | Mar 21, 2024 | HK$3.20 | 3.58% |
| 3 | Oct 18, 2023 | Oct 18, 2023 | Nov 09, 2023 | HK$1.10 | 1.24% |
| 4 | Aug 14, 2023 | Aug 14, 2023 | Sep 05, 2023 | HK$1.10 | 1.11% |
| 5 | May 15, 2023 | May 15, 2023 | May 15, 2023 | HK$1.10 | 0.97% |
FAQ
Click here for our free guide on how to buy Hang Seng Bank Limited Stock.
