Tingyi (Cayman Islands) Holding Corp. Stock Forecast
Tingyi (Cayman Islands) Holding Corp. stock downgraded to Sell Candidate
(Updated on Jun 20, 2024)
The Tingyi (Cayman Islands) Holding Corp. stock price fell by -1.73% on the last day (Thursday, 20th Jun 2024) from HK$9.83 to HK$9.66. During the last trading day the stock fluctuated 4.20% from a day low at HK$9.53 to a day high of HK$9.93. The price has been going up and down for this period, and there has been a -1.73% loss for the last 2 weeks. Volume has increased on the last day by 2 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, 11 million shares were bought and sold for approximately HK$110.24 million.
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 14.83% during the next 3 months and, with a 90% probability hold a price between HK$10.68 and HK$12.75 at the end of this 3-month period.
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0322.HK Signals & Forecast
The Tingyi (Cayman Islands) Holding Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$9.53 and HK$9.65. A breakdown below any of these levels will issue sell signals. 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 16, 2024, and so far it has fallen -8.17%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tingyi (Cayman Islands) Holding Corp. stock
Tingyi (Cayman Islands) Holding Corp. finds support from accumulated volume at HK$9.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.400 (4.20%) between high and low. For the last week, the stock has had daily average volatility of 4.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0322.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Tingyi (Cayman Islands) Holding Corp. to open at HK$9.71, and during the day (based on 14 day Average True Range), to move between HK$9.29 and HK$10.03, which gives a possible trading interval of +/-HK$0.374 (+/-3.87%) up or down from last closing price. If Tingyi (Cayman Islands) Holding Corp. takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$9.58 (0.83%) than the resistance at HK$9.80 (1.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tingyi (Cayman Islands) Holding Corp. stock A Buy?
The Tingyi (Cayman Islands) Holding Corp. stock holds several negative signals and despite the positive trend, we believe Tingyi (Cayman Islands) Holding Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.288 Sell Candidate Downgraded
Predicted Opening Price for Tingyi (Cayman Islands) Holding Corp. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$9.71 ( 0.483%) | HK$9.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0322.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.11 | 4.62% |
| R2 | 9.95 | 3.04% |
| R1 | 9.86 | 2.06% |
| Price | 9.66 | |
| S1 | 9.55 | -1.10% |
| S2 | 9.46 | -2.08% |
| S3 | 9.31 | -3.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.52 | 8.90% |
| R2 | 9.83 | 1.76% |
| R1 | 9.80 | 1.45% |
| Price | 9.66 | |
| S1 | 9.58 | -0.83% |
| S2 | 9.55 | -1.14% |
| S3 | 8.72 | -9.73% |
0322 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jul 10, 2024 | HK$0.599 | 6.20% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | HK$0.257 | 2.22% |
| 3 | Nov 04, 2022 | Nov 04, 2022 | Nov 04, 2022 | HK$0.520 | 4.51% |
| 4 | Jun 15, 2022 | Jun 15, 2022 | Jun 15, 2022 | HK$0.416 | 3.29% |
| 5 | Nov 05, 2021 | Nov 05, 2021 | Nov 05, 2021 | HK$0.536 | 3.55% |
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