Ajisen (China) Holdings Limited Stock Forecast
Ajisen (China) Holdings Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The Ajisen (China) Holdings Limited stock price gained 1.92% on the last trading day (Friday, 10th May 2024), rising from HK$1.04 to HK$1.06. During the last trading day the stock fluctuated 2.91% from a day low at HK$1.03 to a day high of HK$1.06. The price has risen in 5 of the last 10 days and is up by 0.95% 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, 981 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$2.60 million.
The stock lies in the middle of a wide and weak 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 3.05% during the next 3 months and, with a 90% probability hold a price between HK$1.04 and HK$1.22 at the end of this 3-month period.
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0538.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.00%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ajisen (China) Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$1.06. On a fall, the stock will find some support from the short-term average at HK$1.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Ajisen (China) Holdings Limited stock
Ajisen (China) Holdings Limited finds support from accumulated volume at HK$1.05 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$0.0300 between high and low, or 2.91%. For the last week the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: HK$1.00 (-5.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (0538.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Ajisen (China) Holdings Limited to open at HK$1.05, and during the day (based on 14 day Average True Range), to move between HK$1.02 and HK$1.10, which gives a possible trading interval of +/-HK$0.0403 (+/-3.80%) up or down from last closing price. If Ajisen (China) Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.60% 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$1.07 (0.94%) than the support at HK$1.05 (0.94%), 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 Ajisen (China) 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 Ajisen (China) 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: 1.065 Buy Candidate Upgraded
Predicted Opening Price for Ajisen (China) Holdings Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$1.05 ( 0.94%) | HK$1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0538.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 1.89 % | |
| R2 | 1.07 | 0.81 % | ||
| R1 | 1.06 | 0.138 % | ||
| Current price: | 1.06 | |||
| Support | S1 | 1.04 | -2.02 % | |
| S2 | 1.03 | -2.69 % | ||
| S3 | 1.02 | -3.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.13 | 6.60 % | |
| R2 | 1.10 | 3.77 % | ||
| R1 | 1.07 | 0.94 % | ||
| Current price | 1.06 | |||
| Support | S1 | 1.05 | -0.94% | |
| S2 | 1.03 | -2.83% | ||
| S3 | 1.02 | -3.77% |
0538 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Aug 15, 2024 | HK$0.0860 | 8.19% |
| 2 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | HK$0.0680 | 7.39% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | HK$0.0980 | 9.61% |
| 4 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | HK$0.0240 | 1.80% |
| 5 | May 25, 2021 | May 25, 2021 | May 25, 2021 | HK$0.0950 | 6.99% |
FAQ
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