Oriental Watch Holdings Limited Stock Forecast
Evaluation of Oriental Watch Holdings Limited stock downgraded after the last trading session.
(Updated on May 02, 2024)
The Oriental Watch Holdings Limited stock price fell by -0.85% on the last day (Thursday, 2nd May 2024) from HK$3.53 to HK$3.50. During the last trading day the stock fluctuated 1.73% from a day low at HK$3.47 to a day high of HK$3.53. The price has fallen in 5 of the last 10 days and is down by -1.96% for this period. Volume has increased on the last day by 518 thousand 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, 854 thousand shares were bought and sold for approximately HK$2.99 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.00% during the next 3 months and, with a 90% probability hold a price between HK$3.28 and HK$3.48 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0398.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.575%. 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 Oriental Watch Holdings 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$3.51 and HK$3.60. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Oriental Watch Holdings Limited stock
Oriental Watch Holdings Limited finds support from accumulated volume at HK$3.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0600 between high and low, or 1.73%. For the last week the stock has had daily average volatility of 1.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0398.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Oriental Watch Holdings Limited to open at HK$3.50, and during the day (based on 14 day Average True Range), to move between HK$3.44 and HK$3.56, which gives a possible trading interval of +/-HK$0.0615 (+/-1.76%) up or down from last closing price. If Oriental Watch Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.51% 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$3.49 (0.29%) than the resistance at HK$3.58 (2.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oriental Watch Holdings Limited stock A Buy?
Oriental Watch Holdings Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -3.203 Sell Candidate Downgraded
Predicted Opening Price for Oriental Watch Holdings Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$3.50 ( 0%) | HK$3.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0398.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.56 | 1.71 % | |
| R2 | 3.54 | 1.06 % | ||
| R1 | 3.52 | 0.655 % | ||
| Current price: | 3.50 | |||
| Support | S1 | 3.48 | -0.655 % | |
| S2 | 3.46 | -1.06 % | ||
| S3 | 3.44 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.73 | 6.57 % | |
| R2 | 3.62 | 3.43 % | ||
| R1 | 3.58 | 2.29 % | ||
| Current price | 3.50 | |||
| Support | S1 | 3.49 | -0.286% | |
| S2 | 3.48 | -0.571% | ||
| S3 | 0 | . |
0398 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 04, 2024 | Jan 04, 2024 | Jan 04, 2024 | HK$0 | 0% |
| 2 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | HK$0.235 | 5.68% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | HK$0.305 | 7.76% |
| 4 | Dec 07, 2021 | Dec 07, 2021 | Dec 07, 2021 | HK$0.258 | 5.40% |
| 5 | Sep 20, 2021 | Sep 20, 2021 | Sep 20, 2021 | HK$0.270 | 8.13% |
FAQ
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