China Foods Limited Stock Forecast
China Foods Limited stock price ended at HK$2.85 on Friday, after gaining 2.52%.
(Updated on Jun 28, 2024)
The China Foods Limited stock price gained 2.52% on the last trading day (Friday, 28th Jun 2024), rising from HK$2.78 to HK$2.85. During the last trading day the stock fluctuated 2.87% from a day low at HK$2.79 to a day high of HK$2.87. The price has fallen in 6 of the last 10 days and is down by -5.94% for this period. Volume fell on the last day by -612 thousand shares and in total, 410 thousand shares were bought and sold for approximately HK$1.17 million. 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 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 China Foods Limited stock with a 90% probability to be traded between HK$2.77 and HK$3.07 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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0506.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 2.52%. 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 China Foods 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$2.86 and HK$2.98. 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 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.
Support, Risk & Stop-loss for China Foods Limited stock
China Foods Limited finds support from accumulated volume at HK$2.84 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0800 between high and low, or 2.87%. For the last week the stock has had daily average volatility of 2.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0506.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect China Foods Limited to open at HK$2.84, and during the day (based on 14 day Average True Range), to move between HK$2.78 and HK$2.92, which gives a possible trading interval of +/-HK$0.0652 (+/-2.29%) up or down from last closing price. If China Foods Limited takes out the full calculated possible swing range there will be an estimated 4.57% 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$2.84 (0.35%) than the resistance at HK$2.90 (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 China Foods Limited stock A Buy?
China Foods Limited 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.
Current score: -1.249 Sell Candidate Unchanged
Predicted Opening Price for China Foods Limited of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
HK$2.84 ( 0.468%) | HK$2.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0506.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.92 | 2.34% |
R2 | 2.89 | 1.27% |
R1 | 2.87 | 0.604% |
Price | 2.85 | |
S1 | 2.81 | -1.54% |
S2 | 2.79 | -2.20% |
S3 | 2.76 | -3.27% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.00 | 5.26% |
R2 | 2.93 | 2.81% |
R1 | 2.90 | 1.75% |
Price | 2.85 | |
S1 | 2.84 | -0.351% |
S2 | 2.78 | -2.46% |
S3 | 0 | - |
0506 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 18, 2024 | Jun 18, 2024 | Jul 10, 2024 | HK$0.161 | 5.66% |
2 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | HK$0.133 | 5.34% |
3 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | HK$0.125 | 4.84% |
4 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | HK$0.106 | 3.46% |
5 | Jun 09, 2020 | Jun 09, 2020 | Jun 09, 2020 | HK$0.0480 | 1.71% |
FAQ
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