Cogobuy Group Stock Forecast
Green day on Friday for Cogobuy Group stock after gaining 1.75%
(Updated on Jun 14, 2024)
The Cogobuy Group stock price gained 1.75% on the last trading day (Friday, 14th Jun 2024), rising from HK$1.14 to HK$1.16. During the last trading day the stock fluctuated 2.63% from a day low at HK$1.14 to a day high of HK$1.17. The price has fallen in 5 of the last 10 days but is still up by 3.57% over the past 2 weeks. Volume fell on the last day by -153 thousand shares and in total, 67 thousand shares were bought and sold for approximately HK$77.72 thousand. 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 upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$1.18 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.49% during the next 3 months and, with a 90% probability hold a price between HK$1.07 and HK$1.23 at the end of this 3-month period.
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0400.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -0.85%. 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 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. The Cogobuy Group 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$1.14 and HK$1.09. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Cogobuy Group stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$1.04 and HK$1.03. 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, Cogobuy Group finds support just below today's level at HK$1.04. If this is broken, then the next support from accumulated volume will be at HK$1.03 and HK$1.01.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0300 between high and low, or 2.63%. For the last week the stock has had daily average volatility of 3.46%.
Our recommended stop-loss: HK$1.12 (-3.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (0400.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Cogobuy Group to open at HK$1.16, and during the day (based on 14 day Average True Range), to move between HK$1.11 and HK$1.21, which gives a possible trading interval of +/-HK$0.0519 (+/-4.48%) up or down from last closing price. If Cogobuy Group takes out the full calculated possible swing range there will be an estimated 8.95% 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$1.17 (0.86%) than the support at HK$1.04 (10.34%), 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 Cogobuy Group 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 Cogobuy Group stock to perform well in the short-term.
Current score: 1.130 Buy Candidate Unchanged
Predicted Opening Price for Cogobuy Group of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$1.16 ( 0.287%) | HK$1.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0400.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.19 | 2.30% |
| R2 | 1.18 | 1.31% |
| R1 | 1.17 | 0.701% |
| Price | 1.16 | |
| S1 | 1.15 | -1.28% |
| S2 | 1.14 | -1.89% |
| S3 | 1.13 | -2.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 1.18 | 1.72% |
| R1 | 1.17 | 0.86% |
| Price | 1.16 | |
| S1 | 1.04 | -10.34% |
| S2 | 1.03 | -11.21% |
| S3 | 1.01 | -12.93% |
0400 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | HK$0.0400 | 2.94% |
| 2 | Sep 29, 2017 | Sep 29, 2017 | Sep 29, 2017 | HK$0.0500 | 1.04% |
FAQ
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