Fountain Set (Holdings) Limited Stock Forecast
Fountain Set (Holdings) Limited stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 22, 2024)
The Fountain Set (Holdings) Limited stock price gained 1.54% on the last trading day (Wednesday, 22nd May 2024), rising from HK$0.650 to HK$0.660. During the last trading day the stock fluctuated 1.54% from a day low at HK$0.650 to a day high of HK$0.660. The price has risen in 6 of the last 10 days and is up by 10% over the past 2 weeks. Volume fell on the last day by -980 thousand shares and in total, 216 thousand shares were bought and sold for approximately HK$142.56 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 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 78.76% during the next 3 months and, with a 90% probability hold a price between HK$1.03 and HK$1.23 at the end of this 3-month period.
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0420.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -1.49%. Further fall is indicated until a new bottom pivot has been found. 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 also not. The Fountain Set (Holdings) Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.663. On a fall, the stock will find some support from the long-term average at approximately HK$0.536. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fountain Set (Holdings) Limited stock
Fountain Set (Holdings) Limited finds support from accumulated volume at HK$0.650 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 1.54%. For the last week the stock has had daily average volatility of 1.22%.
The Fountain Set (Holdings) Limited stock is extremely overbought on RSI14 (86). This increases the short-term risk substantially.
Our recommended stop-loss: HK$0.638 (-3.26%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (0420.HK) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Fountain Set (Holdings) Limited to open at HK$0.657, and during the day (based on 14 day Average True Range), to move between HK$0.645 and HK$0.675, which gives a possible trading interval of +/-HK$0.0148 (+/-2.25%) up or down from last closing price. If Fountain Set (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 4.49% 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$0.670 (1.52%) than the support at HK$0.650 (1.52%), 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 Fountain Set (Holdings) Limited 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 Fountain Set (Holdings) Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.729 Buy Candidate Upgraded
Predicted Opening Price for Fountain Set (Holdings) Limited of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| HK$0.657 ( 0.505%) | HK$0.660 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0420.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.667 | 1.01 % | |
| R2 | 0.663 | 0.431 % | ||
| R1 | 0.660 | 0.0737 % | ||
| Current price: | 0.660 | |||
| Support | S1 | 0.653 | -1.08 % | |
| S2 | 0.650 | -1.44 % | ||
| S3 | 0.647 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.670 | 1.52 % | ||
| Current price | 0.660 | |||
| Support | S1 | 0.650 | -1.52% | |
| S2 | 0.620 | -6.06% | ||
| S3 | 0.510 | -22.73% |
0420 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 16, 2024 | HK$0.0300 | 4.55% |
| 2 | May 13, 2022 | May 13, 2022 | May 13, 2022 | HK$0.160 | 13.68% |
| 3 | May 14, 2021 | May 14, 2021 | May 14, 2021 | HK$0.0700 | 6.03% |
| 4 | May 15, 2020 | May 15, 2020 | May 15, 2020 | HK$0.0116 | 1.09% |
| 5 | May 20, 2019 | May 20, 2019 | May 20, 2019 | HK$0.0133 | 1.12% |
FAQ
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