Citychamp Watch & Jewellery Group Ltd Stock Forecast
Red day on Thursday for Citychamp Watch & Jewellery Group Ltd stock after losing 1.94%
(Updated on Mar 28, 2024)
The Citychamp Watch & Jewellery Group Ltd stock price fell by -1.94% on the last day (Thursday, 28th Mar 2024) from HK$1.03 to HK$1.01. During the last trading day the stock fluctuated 8.00% from a day low at HK$1.00 to a day high of HK$1.08. The price has risen in 5 of the last 10 days but is still down by -1.94% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately HK$1.55 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.88% during the next 3 months and, with a 90% probability hold a price between HK$0.89 and HK$1.04 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0256.HK Signals & Forecast
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. The Citychamp Watch & Jewellery Group Ltd 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$1.03 and HK$1.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -14.41%. Further fall is indicated until a new bottom pivot has been found. 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 Citychamp Watch & Jewellery Group Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0800 between high and low, or 8.00%. For the last week the stock has had daily average volatility of 3.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0256.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Citychamp Watch & Jewellery Group Limited to open at HK$1.03, and during the day (based on 14 day Average True Range), to move between HK$0.97 and HK$1.05, which gives a possible trading interval of +/-HK$0.0376 (+/-3.72%) up or down from last closing price. If Citychamp Watch & Jewellery Group Limited takes out the full calculated possible swing range there will be an estimated 7.44% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$1.04, some HK$0.0300 (2.97%) from the current price of HK$1.01, our system finds the risk reward not very attractive.
Is Citychamp Watch & Jewellery Group Limited stock A Buy?
Citychamp Watch & Jewellery Group Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.700 Sell Candidate Unchanged
Predicted Opening Price for Citychamp Watch & Jewellery Group Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$1.03 ( 1.98%) | HK$1.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0256.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.11 | 9.90 % | |
R2 | 1.08 | 6.88 % | ||
R1 | 1.06 | 5.01 % | ||
Current price: | 1.01 | |||
Support | S1 | 1.00 | -1.05 % | |
S2 | 0.98 | -2.91 % | ||
S3 | 0.95 | -5.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.12 | 10.89 % | |
R2 | 1.05 | 3.96 % | ||
R1 | 1.04 | 2.97 % | ||
Current price | 1.01 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
0256 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 25, 2018 | Jun 25, 2018 | Jun 25, 2018 | HK$0.0600 | 3.75% |
2 | Jun 01, 2017 | Jun 01, 2017 | Jun 01, 2017 | HK$0.0500 | 2.94% |
3 | Aug 25, 2016 | Aug 25, 2016 | Aug 25, 2016 | HK$0.0250 | 1.40% |
4 | Sep 30, 2014 | Sep 30, 2014 | Sep 30, 2014 | HK$0.0360 | 3.10% |
5 | Oct 25, 2012 | Oct 25, 2012 | Oct 25, 2012 | HK$0.0100 | 1.22% |
FAQ
Click here for our free guide on how to buy Citychamp Watch & Jewellery Group Limited Stock.