Tai Ping Carpets International Limited Stock Forecast
Tai Ping Carpets International Limited stock upgraded to Buy Candidate.
(Updated on Jun 20, 2024)
The Tai Ping Carpets International Limited stock price gained 0.83% on the last trading day (Thursday, 20th Jun 2024), rising from HK$1.21 to HK$1.22. During the last trading day the stock fluctuated 0% from a day low at HK$1.22 to a day high of HK$1.22. The price has been going up and down for this period, and there has been a -1.61% loss for the last 2 weeks. Volume fell on the last day by -49 thousand shares and in total, 50 thousand shares were bought and sold for approximately HK$61.00 thousand. 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 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 14.66% during the next 3 months and, with a 90% probability hold a price between HK$1.28 and HK$1.50 at the end of this 3-month period.
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0146.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -1.61%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Tai Ping Carpets International Limited 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$1.18 and HK$1.13. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Tai Ping Carpets International Limited stock
Tai Ping Carpets International Limited finds support from accumulated volume at HK$1.17 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.702%.
Our recommended stop-loss: HK$1.18 (-3.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (0146.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Tai Ping Carpets International Limited to open at HK$1.22, and during the day (based on 14 day Average True Range), to move between HK$1.19 and HK$1.25, which gives a possible trading interval of +/-HK$0.0308 (+/-2.52%) up or down from last closing price. If Tai Ping Carpets International Limited takes out the full calculated possible swing range there will be an estimated 5.05% 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$1.24 (1.64%) than the support at HK$1.17 (4.10%), 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 Tai Ping Carpets International 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 Tai Ping Carpets International Limited 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: 2.907 Buy Candidate Upgraded
Predicted Opening Price for Tai Ping Carpets International Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$1.22 ( 0%) | HK$1.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0146.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.22 | - |
| R2 | 1.22 | - |
| R1 | 1.22 | - |
| Price | 1.22 | |
| S1 | 1.22 | - |
| S2 | 1.22 | - |
| S3 | 1.22 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1.24 | 1.64% |
| Price | 1.22 | |
| S1 | 1.17 | -4.10% |
| S2 | 1.06 | -13.11% |
| S3 | 1.04 | -14.75% |
0146 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 11, 2023 | Dec 11, 2023 | Dec 29, 2023 | HK$0.0900 | 10.98% |
| 2 | Dec 13, 2022 | Dec 13, 2022 | Dec 13, 2022 | HK$0.0600 | 10.17% |
| 3 | Nov 17, 2021 | Nov 17, 2021 | Nov 17, 2021 | HK$0.0300 | 2.61% |
| 4 | Oct 20, 2017 | Oct 20, 2017 | Oct 20, 2017 | HK$1.70 | 95.51% |
| 5 | May 23, 2017 | May 23, 2017 | May 23, 2017 | HK$0.0300 | 1.36% |
FAQ
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