United Energy Group Limited Stock Forecast
Evaluation of United Energy Group Limited stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
No changes to the price of United Energy Group Limited stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 3.57% from a day low at HK$0.560 to a day high of HK$0.580. The price has risen in 4 of the last 10 days but is still down by -1.72% for this period.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$0.543, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.799 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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0467.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -5.00%. 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 price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The United Energy Group Limited 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$0.557 and HK$0.549. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for United Energy Group Limited stock
United Energy Group Limited finds support from accumulated volume at HK$0.560 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0200 between high and low, or 3.57%. For the last week, the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0467.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect United Energy Group Limited to open at HK$0.570, and during the day (based on 14 day Average True Range), to move between HK$0.529 and HK$0.611, which gives a possible trading interval of +/-HK$0.0412 (+/-7.24%) up or down from last closing price. If United Energy Group Limited takes out the full calculated possible swing range there will be an estimated 14.47% 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$0.560 (1.75%) than the resistance at HK$0.580 (1.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is United Energy Group Limited stock A Buy?
United Energy Group Limited holds several negative signals and we believe that 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: -1.782 Sell Candidate Downgraded
Predicted Opening Price for United Energy Group Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$0.570 ( 0%) | HK$0.570 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0467.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.590 | 3.51 % | |
| R2 | 0.582 | 2.17 % | ||
| R1 | 0.578 | 1.34 % | ||
| Current price: | 0.570 | |||
| Support | S1 | 0.562 | -1.34 % | |
| S2 | 0.558 | -2.17 % | ||
| S3 | 0.550 | -3.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.620 | 8.77 % | |
| R2 | 0.600 | 5.26 % | ||
| R1 | 0.580 | 1.75 % | ||
| Current price | 0.570 | |||
| Support | S1 | 0.560 | -1.75% | |
| S2 | 0.530 | -7.02% | ||
| S3 | 0.500 | -12.28% |
0467 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | HK$0.0400 | 4.88% |
| 2 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | HK$0.0400 | 5.97% |
| 3 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | HK$0.0236 | 1.61% |
| 4 | Dec 10, 2019 | Dec 10, 2019 | Dec 10, 2019 | HK$0.0400 | 2.65% |
| 5 | Apr 24, 2018 | Apr 24, 2018 | Apr 24, 2018 | HK$0.0400 | 6.35% |
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