Xinhua News Media Holdings Limited Stock Forecast
Big movements in Xinhua News Media Holdings Limited stock price on Friday moving 13.46% between high and low
(Updated on May 31, 2024)
The Xinhua News Media Holdings Limited stock price gained 5.36% on the last trading day (Friday, 31st May 2024), rising from HK$0.0560 to HK$0.0590. During the last trading day the stock fluctuated 13.46% from a day low at HK$0.0520 to a day high of HK$0.0590. The price has risen in 5 of the last 10 days and is up by 11.32% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 960 thousand more shares were traded than the day before. In total, 975 thousand shares were bought and sold for approximately HK$57.53 thousand.
The stock lies in the middle of a 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 54.95% during the next 3 months and, with a 90% probability hold a price between HK$0.0838 and HK$0.0972 at the end of this 3-month period.
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0309.HK Signals & Forecast
Mostly positive signals in the chart today. 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$0.0560 and HK$0.0525. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 18.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Xinhua News Media Holdings 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.
Support, Risk & Stop-loss for Xinhua News Media Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0560 and HK$0.0500. 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, Xinhua News Media Holdings Limited finds support just below today's level at HK$0.0560. If this is broken, then the next support from accumulated volume will be at HK$0.0500 and HK$0.0480.
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$0.0070 between high and low, or 13.46%. For the last week, the stock has had daily average volatility of 8.07%.
Our recommended stop-loss: HK$0.0567 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (0309.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Xinhua News Media Holdings Limited to open at HK$0.0567, and during the day (based on 14 day Average True Range), to move between HK$0.0545 and HK$0.0635, which gives a possible trading interval of +/-HK$0.0045 (+/-7.55%) 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 15.10% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.0560, some HK$0.0030 (5.08%) from the current price of HK$0.0590, our system finds the risk reward attractive.
Is Xinhua News Media Holdings Limited stock A Buy?
Xinhua News Media Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.190 Strong Buy Candidate Upgraded
Predicted Opening Price for Xinhua News Media Holdings Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$0.0567 ( 3.95%) | HK$0.0590 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0637 | 7.91 % | |
| R2 | 0.0610 | 3.38 % | ||
| R1 | 0.0593 | 0.577 % | ||
| Current price: | 0.0590 | |||
| Support | S1 | 0.0540 | -8.49 % | |
| S2 | 0.0523 | -11.29 % | ||
| S3 | 0.0497 | -15.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0590 | |||
| Support | S1 | 0.0560 | -5.08% | |
| S2 | 0.0500 | -15.25% | ||
| S3 | 0.0480 | -18.64% |
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
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