Television Broadcasts Limited Stock Forecast
Television Broadcasts Limited stock upgraded to Buy Candidate.
(Updated on May 02, 2024)
The Television Broadcasts Limited stock price gained 2.95% on the last trading day (Thursday, 2nd May 2024), rising from HK$3.39 to HK$3.49. During the last trading day the stock fluctuated 5.71% from a day low at HK$3.33 to a day high of HK$3.52. The price has risen in 6 of the last 10 days and is up by 19.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 667 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$8.22 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.03% during the next 3 months and, with a 90% probability hold a price between HK$2.79 and HK$3.61 at the end of this 3-month period.
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0511.HK Signals & Forecast
Mostly positive signals in the chart today. The Television Broadcasts 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$3.27 and HK$3.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 22.03%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Television Broadcasts Limited stock
Television Broadcasts Limited finds support from accumulated volume at HK$3.47 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$0.190 between high and low, or 5.71%. For the last week, the stock has had daily average volatility of 5.54%.
Our recommended stop-loss: HK$3.37 (-3.44%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (0511.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Television Broadcasts Limited to open at HK$3.45, and during the day (based on 14 day Average True Range), to move between HK$3.34 and HK$3.64, which gives a possible trading interval of +/-HK$0.147 (+/-4.22%) up or down from last closing price. If Television Broadcasts Limited takes out the full calculated possible swing range there will be an estimated 8.44% 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$3.47 (0.57%) than the resistance at HK$3.52 (0.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Television Broadcasts Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 3.684 Buy Candidate Upgraded
Predicted Opening Price for Television Broadcasts Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$3.45 ( 1.24%) | HK$3.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0511.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.64 | 4.20 % | |
| R2 | 3.56 | 2.12 % | ||
| R1 | 3.52 | 0.84 % | ||
| Current price: | 3.49 | |||
| Support | S1 | 3.37 | -3.32 % | |
| S2 | 3.33 | -4.61 % | ||
| S3 | 3.26 | -6.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.73 | 6.88 % | |
| R2 | 3.59 | 2.87 % | ||
| R1 | 3.52 | 0.86 % | ||
| Current price | 3.49 | |||
| Support | S1 | 3.47 | -0.573% | |
| S2 | 3.39 | -2.87% | ||
| S3 | 3.08 | -11.75% |
0511 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 01, 2020 | Jun 01, 2020 | Jun 01, 2020 | HK$0.200 | 2.01% |
| 2 | Sep 17, 2019 | Sep 17, 2019 | Sep 17, 2019 | HK$0.300 | 2.35% |
| 3 | May 24, 2019 | May 24, 2019 | May 24, 2019 | HK$0.700 | 5.19% |
| 4 | Sep 17, 2018 | Sep 17, 2018 | Sep 17, 2018 | HK$0.300 | 1.33% |
| 5 | May 25, 2018 | May 25, 2018 | May 25, 2018 | HK$0.700 | 2.78% |
FAQ
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