Tao Heung Holdings Limited Stock Forecast
Tao Heung Holdings Limited stock upgraded to Buy Candidate.
(Updated on Jul 03, 2024)
The Tao Heung Holdings Limited stock price gained 2.82% on the last trading day (Wednesday, 3rd Jul 2024), rising from HK$0.710 to HK$0.730. During the last trading day the stock fluctuated 1.37% from a day low at HK$0.730 to a day high of HK$0.740. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 6 thousand shares were bought and sold for approximately HK$4.38 thousand. 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 horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tao Heung Holdings Limited stock with a 90% probability to be traded between HK$0.714 and HK$0.775 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0573.HK Signals & Forecast
The Tao Heung Holdings 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$0.729 and HK$0.727. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.35%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tao Heung Holdings Limited stock
Tao Heung Holdings Limited finds support from accumulated volume at HK$0.720 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved HK$0.0100 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: HK$0.703 (-3.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (0573.HK) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Tao Heung Holdings Limited to open at HK$0.733, and during the day (based on 14 day Average True Range), to move between HK$0.714 and HK$0.746, which gives a possible trading interval of +/-HK$0.0161 (+/-2.21%) up or down from last closing price. If Tao Heung Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.42% 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$0.740 (1.37%) than the support at HK$0.720 (1.37%), 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 Tao Heung Holdings Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Tao Heung Holdings Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.217 Buy Candidate Upgraded
Predicted Opening Price for Tao Heung Holdings Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| HK$0.733 ( 0.457%) | HK$0.730 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0573.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.743 | 1.83% |
| R2 | 0.740 | 1.30% |
| R1 | 0.737 | 0.98% |
| Price | 0.730 | |
| S1 | 0.730 | -0.0667% |
| S2 | 0.727 | -0.390% |
| S3 | 0.723 | -0.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.770 | 5.48% |
| R2 | 0.760 | 4.11% |
| R1 | 0.740 | 1.37% |
| Price | 0.730 | |
| S1 | 0.720 | -1.37% |
| S2 | 0.710 | -2.74% |
| S3 | 0 | - |
0573 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 20, 2024 | HK$0.0300 | 4.17% |
| 2 | Oct 05, 2023 | Oct 05, 2023 | Oct 18, 2023 | HK$0.0300 | 4.00% |
| 3 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | HK$0.0300 | 3.85% |
| 4 | Oct 06, 2022 | Oct 06, 2022 | Oct 06, 2022 | HK$0.0300 | 3.85% |
| 5 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | HK$0.0300 | 3.41% |
FAQ
Click here for our free guide on how to buy Tao Heung Holdings Limited Stock.
