New Century Group Hong Kong Limited Stock Forecast
Big movements in New Century Group Hong Kong Limited stock price on Thursday moving 15.38% between high and low
(Updated on Jun 20, 2024)
The New Century Group Hong Kong Limited stock price gained 2.27% on the last trading day (Thursday, 20th Jun 2024), rising from HK$0.0440 to HK$0.0450. During the last trading day the stock fluctuated 15.38% from a day low at HK$0.0390 to a day high of HK$0.0450. The price has been going up and down for this period, and there has been a -2.17% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 432 thousand more shares were traded than the day before. In total, 432 thousand shares were bought and sold for approximately HK$19.44 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.0437 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 27.59% during the next 3 months and, with a 90% probability hold a price between HK$0.0557 and HK$0.0688 at the end of this 3-month period.
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0234.HK Signals & Forecast
The New Century Group Hong Kong 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$0.0441 and HK$0.0441. A breakdown below any of these levels will issue sell signals. New Century Group Hong Kong Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, May 14, 2024, and so far it has fallen -8.16%. 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).
Support, Risk & Stop-loss for New Century Group Hong Kong Limited stock
New Century Group Hong Kong Limited finds support from accumulated volume at HK$0.0440 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$0.0060 between high and low, or 15.38%. For the last week, the stock has had daily average volatility of 3.08%.
Our recommended stop-loss: HK$0.0421 (-6.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (0234.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect New Century Group Hong Kong Limited to open at HK$0.0430, and during the day (based on 14 day Average True Range), to move between HK$0.0430 and HK$0.0470, which gives a possible trading interval of +/-HK$0.0020 (+/-4.43%) up or down from last closing price. If New Century Group Hong Kong Limited takes out the full calculated possible swing range there will be an estimated 8.85% 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$0.0460 (2.22%) than the support at HK$0.0440 (2.22%), 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 New Century Group Hong Kong Limited stock A Buy?
New Century Group Hong Kong Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for New Century Group Hong Kong Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.0430 ( 4.44%) | HK$0.0450 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0234.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0490 | 8.89% |
| R2 | 0.0467 | 3.80% |
| R1 | 0.0453 | 0.649% |
| Price | 0.0450 | |
| S1 | 0.0407 | -9.54% |
| S2 | 0.0393 | -12.68% |
| S3 | 0.0370 | -17.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0490 | 8.89% |
| R2 | 0.0470 | 4.44% |
| R1 | 0.0460 | 2.22% |
| Price | 0.0450 | |
| S1 | 0.0440 | -2.22% |
| S2 | 0.0400 | -11.11% |
| S3 | 0.0370 | -17.78% |
0234 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2019 | Sep 27, 2019 | Oct 22, 2019 | HK$0.0030 | 2.40% |
| 2 | Sep 01, 2015 | Sep 01, 2015 | Sep 01, 2015 | HK$0.0055 | 3.85% |
| 3 | Dec 10, 2014 | Dec 10, 2014 | Dec 10, 2014 | HK$0.0020 | 1.14% |
| 4 | Sep 29, 2014 | Sep 29, 2014 | Sep 29, 2014 | HK$0.0045 | 2.90% |
| 5 | Dec 10, 2013 | Dec 10, 2013 | Dec 10, 2013 | HK$0.0030 | 1.94% |
FAQ
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