Regal Hotels International Holdings Ltd Stock Forecast
A very strong day for Regal Hotels International Holdings Ltd stock price on Wednesday
(Updated on Jun 19, 2024)
The Regal Hotels International Holdings Ltd stock price gained 5.15% on the last trading day (Wednesday, 19th Jun 2024), rising from HK$2.72 to HK$2.86. 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 5.00% from a day low at HK$2.80 to a day high of HK$2.94. The price has fallen in 4 of the last 10 days but is still up by 11.72% over the past 2 weeks. Volume fell on the last day by -328 thousand shares and in total, 1 million shares were bought and sold for approximately HK$4.02 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 horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. HK$2.81 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach HK$3.12 sometime during the next 3 months.
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0078.HK Signals & Forecast
The Regal Hotels International Holdings 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$2.61 and HK$2.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 14.40%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Regal Hotels International Holdings Ltd stock
Regal Hotels International Holdings Ltd finds support from accumulated volume at HK$2.72 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$0.140 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 7.52%.
Our recommended stop-loss: HK$2.76 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (0078.HK) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Regal Hotels International Holdings Limited to open at HK$2.87, and during the day (based on 14 day Average True Range), to move between HK$2.74 and HK$2.98, which gives a possible trading interval of +/-HK$0.125 (+/-4.37%) up or down from last closing price. If Regal Hotels International Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$2.72, some HK$0.140 (4.90%) from the current price of HK$2.86, our system finds the risk reward attractive.
Is Regal Hotels International Holdings Limited stock A Buy?
Regal Hotels International Holdings 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 Regal Hotels International Holdings Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| HK$2.87 ( 0.233%) | HK$2.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0078.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.01 | 5.13% |
| R2 | 2.95 | 3.26% |
| R1 | 2.92 | 2.10% |
| Price | 2.86 | |
| S1 | 2.81 | -1.64% |
| S2 | 2.78 | -2.79% |
| S3 | 2.73 | -4.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 2.86 | |
| S1 | 2.72 | -4.90% |
| S2 | 2.69 | -5.94% |
| S3 | 2.50 | -12.59% |
0078 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | HK$0.0600 | 1.99% |
| 2 | Oct 09, 2019 | Oct 09, 2019 | Oct 09, 2019 | HK$0.0450 | 1.05% |
| 3 | Jun 05, 2019 | Jun 05, 2019 | Jun 05, 2019 | HK$0.140 | 2.97% |
| 4 | Oct 05, 2018 | Oct 05, 2018 | Oct 05, 2018 | HK$0.0500 | 1.17% |
| 5 | Jun 06, 2018 | Jun 06, 2018 | Jun 06, 2018 | HK$0.115 | 2.22% |
FAQ
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