Xinhua News Media Holdings Limited Stock Forecast
Volatile ride for Xinhua News Media Holdings Limited stock price on Tuesday moving between HK$0.0680 and HK$0.0770
(Updated on Jul 02, 2024)
The Xinhua News Media Holdings Limited stock price gained 13.24% on the last trading day (Tuesday, 2nd Jul 2024), rising from HK$0.0680 to HK$0.0770. During the last trading day the stock fluctuated 13.24% from a day low at HK$0.0680 to a day high of HK$0.0770. The price has risen in 5 of the last 10 days and is up by 14.93% over the past 2 weeks. Volume fell on the last day by -155 thousand shares and in total, 4 thousand shares were bought and sold for approximately HK$308.00 . 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 middle of a very wide and strong 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 52.58% during the next 3 months and, with a 90% probability hold a price between HK$0.0983 and HK$0.125 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.
0309.HK Signals & Forecast
The Xinhua News Media 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$0.0739 and HK$0.0621. 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 Friday, June 21, 2024, and so far it has fallen -2.53%. 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 Xinhua News Media Holdings Limited stock
Xinhua News Media Holdings Limited finds support from accumulated volume at HK$0.0750 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.0090 between high and low, or 13.24%. For the last week the stock has had daily average volatility of 8.37%.
Our recommended stop-loss: HK$0.0740 (-3.85%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (0309.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Xinhua News Media Holdings Limited to open at HK$0.0740, and during the day (based on 14 day Average True Range), to move between HK$0.0708 and HK$0.0832, which gives a possible trading interval of +/-HK$0.0062 (+/-8.09%) up or down from last closing price. If Xinhua News Media Holdings Limited takes out the full calculated possible swing range there will be an estimated 16.18% 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$0.0790 (2.60%) than the support at HK$0.0750 (2.60%), 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 Xinhua News Media Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Xinhua News Media Holdings Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.017 Buy Candidate Upgraded
Predicted Opening Price for Xinhua News Media Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.0740 ( 3.90%) | HK$0.0770 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0309.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0830 | 7.79% |
| R2 | 0.0796 | 3.33% |
| R1 | 0.0774 | 0.569% |
| Price | 0.0770 | |
| S1 | 0.0706 | -8.36% |
| S2 | 0.0684 | -11.12% |
| S3 | 0.0650 | -15.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.0790 | 2.60% |
| Price | 0.0770 | |
| S1 | 0.0750 | -2.60% |
| S2 | 0.0670 | -12.99% |
| S3 | 0.0600 | -22.08% |
0309 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 18, 2005 | Aug 18, 2005 | Aug 18, 2005 | HK$0.0050 | 1.92% |
| 2 | Jan 13, 2005 | Jan 13, 2005 | Jan 13, 2005 | HK$0.0050 | 1.89% |
| 3 | Aug 19, 2004 | Aug 19, 2004 | Aug 19, 2004 | HK$0.0125 | 4.63% |
| 4 | Jan 08, 2004 | Jan 08, 2004 | Jan 08, 2004 | HK$0.0075 | 2.50% |
FAQ
Click here for our free guide on how to buy Xinhua News Media Holdings Limited Stock.
