Tsingtao Brewery Company Limited Stock Forecast

Tsingtao Brewery Company Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 20, 2024)

0168.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Tsingtao Brewery Company 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$54.02 and HK$58.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -16.98%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Tsingtao Brewery Company Limited stock

Tsingtao Brewery Company Limited finds support from accumulated volume at HK$52.80 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$1.55 between high and low, or 2.93%. For the last week, the stock has had daily average volatility of 2.84%.

Our recommended stop-loss: HK$50.24 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 49 days ago.)

Trading Expectations (0168.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Tsingtao Brewery Company Limited to open at HK$53.47, and during the day (based on 14 day Average True Range), to move between HK$51.23 and HK$54.87, which gives a possible trading interval of +/-HK$1.82 (+/-3.44%) up or down from last closing price. If Tsingtao Brewery Company Limited takes out the full calculated possible swing range there will be an estimated 6.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$52.80 (0.47%) than the resistance at HK$55.65 (4.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Tsingtao Brewery Company Limited stock A Buy?

Tsingtao Brewery Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.485 Hold/Accumulate Upgraded

Predicted Opening Price for Tsingtao Brewery Company Limited of Friday, June 21, 2024

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