Lung Kee (Bermuda) Holdings Limited Stock Forecast
Green day on Friday for Lung Kee (Bermuda) Holdings Limited
(Updated on May 17, 2024)
The Lung Kee (Bermuda) Holdings Limited stock price gained 3.57% on the last trading day (Friday, 17th May 2024), rising from HK$1.40 to HK$1.45. During the last trading day the stock fluctuated 0% from a day low at HK$1.45 to a day high of HK$1.45. The price has risen in 8 of the last 10 days and is up by 23.93% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 18 thousand shares were bought and sold for approximately HK$26.10 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 stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at HK$1.45 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Lung Kee (Bermuda) Holdings Limited stock with a 90% probability to be traded between HK$1.14 and HK$1.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0255.HK Signals & Forecast
The Lung Kee (Bermuda) Holdings 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$1.37 and HK$1.21. 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 0%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Lung Kee (Bermuda) Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$1.18 and HK$1.14. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lung Kee (Bermuda) Holdings Limited finds support just below today's level at HK$1.18. If this is broken, then the next support from accumulated volume will be at HK$1.14 and HK$1.13.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high 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 4.17%.
Our recommended stop-loss: HK$1.41 (-3.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (0255.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Lung Kee (Bermuda) Holdings Limited to open at HK$1.45, and during the day (based on 14 day Average True Range), to move between HK$1.41 and HK$1.49, which gives a possible trading interval of +/-HK$0.0403 (+/-2.78%) up or down from last closing price. If Lung Kee (Bermuda) Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1.18, some HK$0.270 (18.62%) from the current price of HK$1.45, our system finds the risk reward attractive.
Is Lung Kee (Bermuda) Holdings Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Lung Kee (Bermuda) Holdings Limited stock to perform well in the short-term period.
Current score: 2.352 Buy Candidate Unchanged
Predicted Opening Price for Lung Kee (Bermuda) Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$1.45 ( 0%) | HK$1.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0255.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.45 | . | |
| R2 | 1.45 | . | ||
| R1 | 1.45 | . | ||
| Current price: | 1.45 | |||
| Support | S1 | 1.45 | . | |
| S2 | 1.45 | . | ||
| S3 | 1.45 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.45 | |||
| Support | S1 | 1.18 | -18.62% | |
| S2 | 1.14 | -21.38% | ||
| S3 | 1.13 | -22.07% |
0255 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 18, 2024 | HK$0.0500 | 3.57% |
| 2 | Sep 11, 2023 | Sep 11, 2023 | Sep 11, 2023 | HK$0.0500 | 3.21% |
| 3 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | HK$0.0500 | 3.16% |
| 4 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.0600 | 3.06% |
| 5 | Sep 09, 2022 | Sep 09, 2022 | Sep 09, 2022 | HK$0.0600 | 2.30% |
FAQ
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