CCT Fortis Holdings Limited Stock Forecast
Big movements in CCT Fortis Holdings Limited stock price on Thursday moving 13.33% between high and low
(Updated on Jun 20, 2024)
The CCT Fortis Holdings Limited stock price fell by -3.85% on the last day (Thursday, 20th Jun 2024) from HK$0.104 to HK$0.100. During the last trading day the stock fluctuated 13.33% from a day low at HK$0.0900 to a day high of HK$0.102. The price has fallen in 6 of the last 10 days and is down by -13.79% for this period. Volume has increased on the last day by 1 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, 2 million shares were bought and sold for approximately HK$187.40 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$0.0988, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.159 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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0138.HK Signals & Forecast
There are few to no technical positive signals at the moment. The CCT Fortis Holdings 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$0.104 and HK$0.117. 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 29, 2024, and so far it has fallen -17.36%. 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). CCT Fortis Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for CCT Fortis Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.0120 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 7.77%.
CCT Fortis Holdings Limited is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0138.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect CCT Fortis Holdings Limited to open at HK$0.0973, and during the day (based on 14 day Average True Range), to move between HK$0.0918 and HK$0.108, which gives a possible trading interval of +/-HK$0.0082 (+/-8.19%) up or down from last closing price. If CCT Fortis Holdings Limited takes out the full calculated possible swing range there will be an estimated 16.39% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.111, some HK$0.0110 (11.00%) from the current price of HK$0.100, our system finds the risk reward not very attractive.
Is CCT Fortis Holdings Limited stock A Buy?
CCT Fortis Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell to a Strong Sell candidate.
Current score: -6.955 Strong Sell Candidate Downgraded
Predicted Opening Price for CCT Fortis Holdings Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.0973 ( 2.67%) | HK$0.100 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0138.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.109 | 9.33% |
| R2 | 0.105 | 4.75% |
| R1 | 0.102 | 1.92% |
| Price | 0.100 | |
| S1 | 0.0927 | -7.25% |
| S2 | 0.0899 | -10.08% |
| S3 | 0.0853 | -14.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.120 | 20.00% |
| R2 | 0.119 | 19.00% |
| R1 | 0.111 | 11.00% |
| Price | 0.100 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
0138 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 12, 2018 | Sep 12, 2018 | Sep 12, 2018 | HK$0.0350 | 4.43% |
| 2 | May 29, 2018 | May 29, 2018 | May 29, 2018 | HK$0.0350 | 3.72% |
| 3 | Sep 11, 2017 | Sep 11, 2017 | Sep 11, 2017 | HK$0.0350 | 3.50% |
| 4 | May 26, 2017 | May 26, 2017 | May 26, 2017 | HK$0.0350 | 3.30% |
| 5 | Sep 08, 2016 | Sep 08, 2016 | Sep 08, 2016 | HK$0.0350 | 3.40% |
FAQ
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