Hongbo Co Ltd Stock Forecast
Hongbo Co Ltd stock price ended at ¥17.62 on Wednesday, after losing 3.13%.
(Updated on May 08, 2024)
The Hongbo Co Ltd stock price fell by -3.13% on the last day (Wednesday, 8th May 2024) from ¥18.19 to ¥17.62. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 8.09% from a day low at ¥17.56 to a day high of ¥18.98. The price has been going up and down for this period, and there has been a 1.79% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 million shares and in total, 31 million shares were bought and sold for approximately ¥553.89 million.
The stock lies in the middle of a very wide and 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 -19.85% during the next 3 months and, with a 90% probability hold a price between ¥12.32 and ¥21.22 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.
002229.SZ Signals & Forecast
There are mixed signals in the stock today. The Hongbo Co Ltd 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 ¥18.49 and ¥22.85. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.98%. 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).
Support, Risk & Stop-loss for Hongbo Co Ltd stock
Hongbo Co Ltd finds support from accumulated volume at ¥17.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥1.42 between high and low, or 8.09%. For the last week, the stock has had daily average volatility of 5.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002229.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Hongbo Co Ltd to open at ¥18.05, and during the day (based on 14 day Average True Range), to move between ¥15.55 and ¥19.69, which gives a possible trading interval of +/-¥2.07 (+/-11.73%) up or down from last closing price. If Hongbo Co Ltd takes out the full calculated possible swing range there will be an estimated 23.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥17.61 (0.06%) than the resistance at ¥18.40 (4.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hongbo Co Ltd stock A Buy?
Hongbo Co Ltd 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.
Current score: -3.699 Sell Candidate Unchanged
Predicted Opening Price for Hongbo Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥18.05 ( 2.46%) | ¥17.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002229.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.47 | 10.52 % | |
| R2 | 18.93 | 7.44 % | ||
| R1 | 18.60 | 5.54 % | ||
| Current price: | 17.62 | |||
| Support | S1 | 17.51 | -0.619 % | |
| S2 | 17.18 | -2.52 % | ||
| S3 | 16.63 | -5.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.90 | 24.29 % | |
| R2 | 20.61 | 16.97 % | ||
| R1 | 18.40 | 4.43 % | ||
| Current price | 17.62 | |||
| Support | S1 | 17.61 | -0.0568% | |
| S2 | 17.31 | -1.76% | ||
| S3 | 16.47 | -6.53% |
002229 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.0300 | 0.397% |
| 2 | Apr 25, 2018 | Apr 25, 2018 | Apr 25, 2018 | ¥0.0600 | 0.517% |
| 3 | May 18, 2017 | May 18, 2017 | May 18, 2017 | ¥0.0100 | 0.0839% |
| 4 | Jun 18, 2014 | Jun 18, 2014 | Jun 18, 2014 | ¥0.0233 | 0.196% |
| 5 | May 23, 2013 | May 23, 2013 | May 23, 2013 | ¥0.0371 | 0.85% |
FAQ
Click here for our free guide on how to buy Hongbo Co Ltd Stock.
