Tsingtao Brewery Company Limited Stock Forecast
Weaker technical forecast for Tsingtao Brewery Company Limited as stock downgraded to Sell Candidate.
(Updated on Jun 26, 2024)
The Tsingtao Brewery Company Limited stock price gained 0.0936% on the last trading day (Wednesday, 26th Jun 2024), rising from HK$53.40 to HK$53.45. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.18% from a day low at HK$52.85 to a day high of HK$54.00. The price has risen in 6 of the last 10 days but is still down by -1.29% for this period. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately HK$99.32 million. 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 lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$51.82 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.28% during the next 3 months and, with a 90% probability hold a price between HK$54.55 and HK$68.79 at the end of this 3-month period.
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0168.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 3.48%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tsingtao Brewery Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$57.78. On a fall, the stock will find some support from the short-term average at HK$53.17. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
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$1.15 between high and low, or 2.18%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0168.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Tsingtao Brewery Company Limited to open at HK$53.43, and during the day (based on 14 day Average True Range), to move between HK$51.67 and HK$55.23, which gives a possible trading interval of +/-HK$1.78 (+/-3.33%) 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 6.66% 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 (1.22%) than the resistance at HK$56.75 (6.17%), 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 we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -1.995 Sell Candidate Downgraded
Predicted Opening Price for Tsingtao Brewery Company Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$53.43 ( 0.0312%) | HK$53.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0168.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 54.58 | 2.12% |
| R2 | 54.14 | 1.30% |
| R1 | 53.87 | 0.791% |
| Price | 53.45 | |
| S1 | 52.99 | -0.85% |
| S2 | 52.72 | -1.36% |
| S3 | 52.28 | -2.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.20 | 14.50% |
| R2 | 59.60 | 11.51% |
| R1 | 56.75 | 6.17% |
| Price | 53.45 | |
| S1 | 52.80 | -1.22% |
| S2 | 51.65 | -3.37% |
| S3 | 50.60 | -5.33% |
0168 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2024 | Jul 03, 2024 | Aug 09, 2024 | HK$2.16 | 4.07% |
| 2 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | HK$0.500 | 0.724% |
| 3 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | HK$0.550 | 0.786% |
| 4 | Jul 04, 2022 | Jul 04, 2022 | Jul 04, 2022 | HK$1.29 | 1.65% |
| 5 | Jul 02, 2021 | Jul 02, 2021 | Jul 02, 2021 | HK$0.90 | 1.11% |
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