China Resources Beer (Holdings) Co Ltd Stock Forecast
China Resources Beer (Holdings) Co Ltd stock price ended at HK$37.05 on Friday, after losing 0.403%.
(Updated on May 17, 2024)
The China Resources Beer (Holdings) Co Ltd stock price fell by -0.403% on the last day (Friday, 17th May 2024) from HK$37.20 to HK$37.05. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.29% from a day low at HK$36.10 to a day high of HK$37.65. The price has been going up and down for this period, and there has been a 2.77% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 16 million shares were bought and sold for approximately HK$589.78 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.00% during the next 3 months and, with a 90% probability hold a price between HK$36.68 and HK$44.43 at the end of this 3-month period.
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0291.HK Signals & Forecast
The China Resources Beer (Holdings) Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$37.69. On a fall, the stock will find some support from the long-term average at approximately HK$35.55. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, May 09, 2024, and so far it has fallen -4.02%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for China Resources Beer (Holdings) Co Ltd stock
China Resources Beer (Holdings) Co Ltd finds support from accumulated volume at HK$36.45 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 4.29%. For the last week, the stock has had daily average volatility of 4.16%.
Our recommended stop-loss: HK$35.20 (-5.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (0291.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect China Resources Beer (Holdings) Company Limited to open at HK$36.93, and during the day (based on 14 day Average True Range), to move between HK$35.51 and HK$38.59, which gives a possible trading interval of +/-HK$1.54 (+/-4.14%) up or down from last closing price. If China Resources Beer (Holdings) Company Limited takes out the full calculated possible swing range there will be an estimated 8.29% 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$37.20 (0.40%) than the support at HK$36.45 (1.62%), 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 China Resources Beer (Holdings) Company Limited stock A Buy?
China Resources Beer (Holdings) Co Ltd 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: 0.950 Hold/Accumulate Unchanged
Predicted Opening Price for China Resources Beer (Holdings) Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$36.93 ( 0.315%) | HK$37.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0291.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.48 | 3.87 % | |
| R2 | 37.89 | 2.27 % | ||
| R1 | 37.53 | 1.28 % | ||
| Current price: | 37.05 | |||
| Support | S1 | 36.34 | -1.91 % | |
| S2 | 35.98 | -2.90 % | ||
| S3 | 35.38 | -4.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.15 | 2.97 % | |
| R2 | 37.95 | 2.43 % | ||
| R1 | 37.20 | 0.405 % | ||
| Current price | 37.05 | |||
| Support | S1 | 36.45 | -1.62% | |
| S2 | 33.40 | -9.85% | ||
| S3 | 32.10 | -13.36% |
0291 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | Jul 04, 2024 | HK$0.701 | 1.90% |
| 2 | May 23, 2023 | May 23, 2023 | May 23, 2023 | HK$0.339 | 0.643% |
| 3 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | HK$0.272 | 0.498% |
| 4 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | HK$0.353 | 0.670% |
| 5 | Aug 31, 2021 | Aug 31, 2021 | Aug 31, 2021 | HK$0.317 | 0.495% |
FAQ
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