Beijing North Star Company Limited Stock Forecast
Weaker technical forecast for Beijing North Star Company Limited as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The Beijing North Star Company Limited stock price fell by -1.49% on the last day (Friday, 19th Apr 2024) from HK$0.670 to HK$0.660. During the last trading day the stock fluctuated 1.54% from a day low at HK$0.650 to a day high of HK$0.660. The price has been going up and down for this period, and there has been a 1.54% gain for the last 2 weeks. Volume has increased on the last day by 270 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 386 thousand shares were bought and sold for approximately HK$254.76 thousand.
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 Beijing North Star Company Limited stock with a 90% probability to be traded between HK$0.619 and HK$0.699 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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0588.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 1.54%. 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 Beijing North Star Company 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$0.660 and HK$0.665. 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). Beijing North Star Company Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Beijing North Star Company Limited stock
Beijing North Star Company Limited finds support from accumulated volume at HK$0.650 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$0.0100 between high and low, or 1.54%. For the last week the stock has had daily average volatility of 2.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0588.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Beijing North Star Company Limited to open at HK$0.657, and during the day (based on 14 day Average True Range), to move between HK$0.640 and HK$0.680, which gives a possible trading interval of +/-HK$0.0202 (+/-3.06%) up or down from last closing price. If Beijing North Star Company Limited takes out the full calculated possible swing range there will be an estimated 6.12% 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$0.670 (1.52%) than the support at HK$0.650 (1.52%), 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 Beijing North Star Company Limited stock A Buy?
Beijing North Star Company 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. 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: -1.905 Sell Candidate Downgraded
Predicted Opening Price for Beijing North Star Company Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$0.657 ( 0.505%) | HK$0.660 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0588.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.667 | 1.01 % | |
| R2 | 0.663 | 0.431 % | ||
| R1 | 0.660 | 0.0737 % | ||
| Current price: | 0.660 | |||
| Support | S1 | 0.653 | -1.08 % | |
| S2 | 0.650 | -1.44 % | ||
| S3 | 0.647 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.690 | 4.55 % | |
| R2 | 0.680 | 3.03 % | ||
| R1 | 0.670 | 1.52 % | ||
| Current price | 0.660 | |||
| Support | S1 | 0.650 | -1.52% | |
| S2 | 0.630 | -4.55% | ||
| S3 | 0.620 | -6.06% |
0588 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2024 | Jul 19, 2024 | Jul 19, 2024 | HK$0.0200 | 3.08% |
| 2 | May 20, 2024 | May 20, 2024 | Jul 15, 2024 | HK$0.0216 | 3.33% |
| 3 | May 16, 2022 | May 16, 2022 | May 16, 2022 | HK$0.0119 | 1.15% |
| 4 | May 17, 2021 | May 17, 2021 | May 17, 2021 | HK$0.0360 | 2.50% |
| 5 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | HK$0.164 | 8.69% |
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