Henderson Land Development Co Ltd Stock Forecast
Green day on Friday for Henderson Land Development Co Ltd
(Updated on May 17, 2024)
The Henderson Land Development Co Ltd stock price gained 1.34% on the last trading day (Friday, 17th May 2024), rising from HK$26.10 to HK$26.45. During the last trading day the stock fluctuated 2.12% from a day low at HK$25.95 to a day high of HK$26.50. The price has risen in 7 of the last 10 days and is up by 9.3% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 7 million shares were bought and sold for approximately HK$174.34 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$25.62, a level that may pose a second chance to hit a runner. According to fan-theory HK$28.20 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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0012.HK Signals & Forecast
The Henderson Land Development Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$25.09 and HK$23.62. 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 19.41%. 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 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 Henderson Land Development Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$23.55 and HK$23.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Henderson Land Development Co Ltd finds support just below today's level at HK$23.55. If this is broken, then the next support from accumulated volume will be at HK$23.20 and HK$22.30.
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$0.550 between high and low, or 2.12%. For the last week, the stock has had daily average volatility of 3.34%.
The Henderson Land Development Co Ltd stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: HK$25.38 (-4.06%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (0012.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Henderson Land Development Company Limited to open at HK$26.30, and during the day (based on 14 day Average True Range), to move between HK$25.78 and HK$27.12, which gives a possible trading interval of +/-HK$0.669 (+/-2.53%) up or down from last closing price. If Henderson Land Development Company Limited takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$23.55, some HK$2.90 (10.96%) from the current price of HK$26.45, our system finds the risk reward attractive.
Is Henderson Land Development Company Limited stock A Buy?
Henderson Land Development Co Ltd 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Henderson Land Development Company Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
HK$26.30 ( 0.567%) | HK$26.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0012.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.85 | 1.51 % | |
R2 | 26.64 | 0.718 % | ||
R1 | 26.51 | 0.227 % | ||
Current price: | 26.45 | |||
Support | S1 | 26.09 | -1.36 % | |
S2 | 25.96 | -1.85 % | ||
S3 | 25.75 | -2.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 26.45 | |||
Support | S1 | 23.55 | -10.96% | |
S2 | 23.20 | -12.29% | ||
S3 | 22.30 | -15.69% |
0012 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 05, 2024 | Jun 05, 2024 | Jun 21, 2024 | HK$1.30 | 4.93% |
2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | HK$1.30 | 5.44% |
3 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | HK$0.500 | 1.98% |
4 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | HK$1.30 | 4.18% |
5 | Sep 03, 2021 | Sep 03, 2021 | Sep 03, 2021 | HK$0.500 | 1.44% |
FAQ
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