China Tontine Wines Group Limited Stock Forecast
China Tontine Wines Group Limited stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The China Tontine Wines Group Limited stock price fell by -1.82% on the last day (Wednesday, 26th Jun 2024) from HK$0.550 to HK$0.540. During the last trading day the stock fluctuated 1.85% from a day low at HK$0.540 to a day high of HK$0.550. The price has fallen in 4 of the last 10 days and is down by -10% for this period. 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 -54 thousand shares and in total, 12 thousand shares were bought and sold for approximately HK$6.48 thousand.
The stock has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately HK$0.540 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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0389.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Tontine Wines Group Limited 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$0.549 and HK$0.617. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for China Tontine Wines Group Limited stock
China Tontine Wines Group Limited finds support from accumulated volume at HK$0.520 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0100 between high and low, or 1.85%. For the last week the stock has had daily average volatility of 4.41%.
Our recommended stop-loss: HK$0.507 (-6.18%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (0389.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect China Tontine Wines Group Limited to open at HK$0.543, and during the day (based on 14 day Average True Range), to move between HK$0.489 and HK$0.591, which gives a possible trading interval of +/-HK$0.0514 (+/-9.51%) up or down from last closing price. If China Tontine Wines Group Limited takes out the full calculated possible swing range there will be an estimated 19.02% 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$0.520 (3.70%) than the resistance at HK$0.590 (9.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Tontine Wines Group Limited stock A Buy?
China Tontine Wines Group Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.062 Hold/Accumulate Upgraded
Predicted Opening Price for China Tontine Wines Group Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.543 ( 0.617%) | HK$0.540 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0389.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.553 | 2.47% |
| R2 | 0.550 | 1.76% |
| R1 | 0.547 | 1.32% |
| Price | 0.540 | |
| S1 | 0.540 | -0.0901% |
| S2 | 0.537 | -0.527% |
| S3 | 0.533 | -1.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.640 | 18.52% |
| R2 | 0.600 | 11.11% |
| R1 | 0.590 | 9.26% |
| Price | 0.540 | |
| S1 | 0.520 | -3.70% |
| S2 | 0 | - |
| S3 | 0 | - |
0389 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2012 | May 08, 2012 | May 08, 2012 | HK$0.0288 | 0.369% |
| 2 | Apr 29, 2011 | Apr 29, 2011 | Apr 29, 2011 | HK$0.0300 | 0.185% |
| 3 | May 28, 2010 | May 28, 2010 | May 28, 2010 | HK$0.0288 | 0.173% |
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