HengTen Networks Group Limited Stock Forecast
Weaker technical forecast for HengTen Networks Group Limited as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The HengTen Networks Group Limited stock price fell by -2.38% on the last day (Tuesday, 2nd Jul 2024) from HK$2.10 to HK$2.05. During the last trading day the stock fluctuated 5.42% from a day low at HK$2.03 to a day high of HK$2.14. The price has fallen in 6 of the last 10 days and is down by -2.84% for this period. Volume has increased on the last day by 9 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 31 million shares were bought and sold for approximately HK$63.22 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.45% during the next 3 months and, with a 90% probability hold a price between HK$2.23 and HK$2.70 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.
0136.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The HengTen Networks Group 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$2.06 and HK$2.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -4.65%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for HengTen Networks Group Limited stock
HengTen Networks Group Limited finds support from accumulated volume at HK$1.99 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$0.110 between high and low, or 5.42%. For the last week, the stock has had daily average volatility of 4.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0136.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect HengTen Networks Group Limited to open at HK$2.07, and during the day (based on 14 day Average True Range), to move between HK$1.96 and HK$2.14, which gives a possible trading interval of +/-HK$0.0932 (+/-4.54%) up or down from last closing price. If HengTen Networks Group Limited takes out the full calculated possible swing range there will be an estimated 9.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$2.09 (1.95%) than the support at HK$1.99 (2.93%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is HengTen Networks Group Limited stock A Buy?
The HengTen Networks Group Limited stock holds several negative signals and despite the positive trend, we believe HengTen Networks Group 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: -3.709 Sell Candidate Downgraded
Predicted Opening Price for HengTen Networks Group Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$2.07 ( 1.14%) | HK$2.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0136.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.18 | 6.50% |
| R2 | 2.14 | 4.45% |
| R1 | 2.12 | 3.19% |
| Price | 2.05 | |
| S1 | 2.03 | -0.91% |
| S2 | 2.01 | -2.18% |
| S3 | 1.96 | -4.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.15 | 4.88% |
| R2 | 2.14 | 4.39% |
| R1 | 2.09 | 1.95% |
| Price | 2.05 | |
| S1 | 1.99 | -2.93% |
| S2 | 1.97 | -3.90% |
| S3 | 1.67 | -18.54% |
0136 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 16, 2006 | Aug 16, 2006 | Aug 16, 2006 | HK$6.33 | 4.55% |
| 2 | Aug 19, 2004 | Aug 19, 2004 | Aug 19, 2004 | HK$6.33 | 4.50% |
| 3 | Aug 16, 2002 | Aug 16, 2002 | Aug 16, 2002 | HK$6.33 | 2.08% |
| 4 | Aug 17, 2001 | Aug 17, 2001 | Aug 17, 2001 | HK$12.67 | 7.84% |
| 5 | Sep 25, 2000 | Sep 25, 2000 | Sep 25, 2000 | HK$12.67 | 4.17% |
FAQ
Click here for our free guide on how to buy HengTen Networks Group Limited Stock.
