China Merchants Port Holdings Co Ltd Stock Forecast

China Merchants Port Holdings Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 16, 2024)

0144.HK Signals & Forecast

The China Merchants Port Holdings 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$11.30 and HK$10.20. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -1.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for China Merchants Port Holdings Co Ltd stock

China Merchants Port Holdings Co Ltd finds support from accumulated volume at HK$11.50 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$0.260 between high and low, or 2.26%. For the last week, the stock has had daily average volatility of 3.94%.

The China Merchants Port Holdings Co Ltd stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$11.25 (-3.89%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (0144.HK) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect China Merchants Port Holdings Company Limited to open at HK$11.65, and during the day (based on 14 day Average True Range), to move between HK$11.42 and HK$11.98, which gives a possible trading interval of +/-HK$0.279 (+/-2.38%) up or down from last closing price. If China Merchants Port Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 4.77% 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$11.88 (1.54%) than the support at HK$11.50 (1.71%), 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 China Merchants Port Holdings Company Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for China Merchants Port Holdings Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.998 Buy Candidate Upgraded

Predicted Opening Price for China Merchants Port Holdings Company Limited of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.