Hong Kong Economic Times Holdings Ltd Stock Forecast
Evaluation of Hong Kong Economic Times Holdings Ltd stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Hong Kong Economic Times Holdings Ltd stock price fell by -2.20% on the last day (Friday, 3rd May 2024) from HK$0.91 to HK$0.89. During the last trading day the stock fluctuated 2.25% from a day low at HK$0.89 to a day high of HK$0.91. The price has been going up and down for this period, and there has been a 2.3% gain for the last 2 weeks. Volume has increased on the last day by 36 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, 80 thousand shares were bought and sold for approximately HK$71.20 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hong Kong Economic Times Holdings Ltd stock with a 90% probability to be traded between HK$0.87 and HK$0.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0423.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.30%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hong Kong Economic Times Holdings Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.91 and HK$0.90. A break-up above any of these levels will issue buy signals. Hong Kong Economic Times Holdings Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Hong Kong Economic Times Holdings Ltd stock
Hong Kong Economic Times Holdings Ltd finds support from accumulated volume at HK$0.87 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$0.0200 between high and low, or 2.25%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0423.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Hong Kong Economic Times Holdings Limited to open at HK$0.90, and during the day (based on 14 day Average True Range), to move between HK$0.87 and HK$0.91, which gives a possible trading interval of +/-HK$0.0159 (+/-1.79%) up or down from last closing price. If Hong Kong Economic Times Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.58% 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$0.90 (1.12%) than the support at HK$0.87 (2.25%), 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 Hong Kong Economic Times Holdings Limited stock A Buy?
Hong Kong Economic Times Holdings Ltd holds several negative signals and is within a wide and 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 Buy to a Sell candidate.
Current score: -1.637 Sell Candidate Downgraded
Predicted Opening Price for Hong Kong Economic Times Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.90 ( 0.749%) | HK$0.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0423.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.92 | 3.00 % | |
| R2 | 0.91 | 2.14 % | ||
| R1 | 0.90 | 1.61 % | ||
| Current price: | 0.89 | |||
| Support | S1 | 0.89 | -0.109 % | |
| S2 | 0.88 | -0.640 % | ||
| S3 | 0.88 | -1.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.95 | 6.74 % | |
| R2 | 0.92 | 3.37 % | ||
| R1 | 0.90 | 1.12 % | ||
| Current price | 0.89 | |||
| Support | S1 | 0.87 | -2.25% | |
| S2 | 0.86 | -3.37% | ||
| S3 | 0.83 | -6.74% |
0423 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 04, 2023 | Dec 04, 2023 | Dec 04, 2023 | HK$0 | 0% |
| 2 | Dec 05, 2022 | Dec 05, 2022 | Dec 05, 2022 | HK$0.0300 | 2.75% |
| 3 | Aug 18, 2022 | Aug 18, 2022 | Aug 18, 2022 | HK$0.0650 | 5.56% |
| 4 | Dec 06, 2021 | Dec 06, 2021 | Dec 06, 2021 | HK$0.0300 | 2.31% |
| 5 | Aug 12, 2021 | Aug 12, 2021 | Aug 12, 2021 | HK$0.0600 | 5.13% |
FAQ
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