Luk Fook Holdings (International) Ltd Stock Forecast
Red day on Thursday for Luk Fook Holdings (International) Ltd stock after losing 0.92%
(Updated on Mar 28, 2024)
The Luk Fook Holdings (International) Ltd stock price fell by -0.92% on the last day (Thursday, 28th Mar 2024) from HK$21.65 to HK$21.45. During the last trading day the stock fluctuated 2.59% from a day low at HK$21.20 to a day high of HK$21.75. The price has fallen in 6 of the last 10 days and is down by -5.3% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -558 thousand shares and in total, 381 thousand shares were bought and sold for approximately HK$8.17 million.
The stock lies in the middle of a wide and strong 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 10.30% during the next 3 months and, with a 90% probability hold a price between HK$22.38 and HK$25.84 at the end of this 3-month period.
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0590.HK Signals & Forecast
The Luk Fook Holdings (International) Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$21.65. On a fall, the stock will find some support from the long-term average at approximately HK$21.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has fallen 0%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Luk Fook Holdings (International) Ltd stock
Luk Fook Holdings (International) Ltd finds support from accumulated volume at HK$20.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.550 (2.59%) between high and low. For the last week, the stock has had daily average volatility of 3.25%.
Our recommended stop-loss: HK$20.12 (-6.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (0590.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Luk Fook Holdings (International) Limited to open at HK$21.47, and during the day (based on 14 day Average True Range), to move between HK$20.81 and HK$22.09, which gives a possible trading interval of +/-HK$0.643 (+/-3.00%) up or down from last closing price. If Luk Fook Holdings (International) Limited takes out the full calculated possible swing range there will be an estimated 5.99% 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$21.65 (0.93%) than the support at HK$20.70 (3.50%), 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 Luk Fook Holdings (International) 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 Luk Fook Holdings (International) Ltd stock to perform well in the short-term.
Current score: 4.626 Buy Candidate Unchanged
Predicted Opening Price for Luk Fook Holdings (International) Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$21.47 ( 0.0777%) | HK$21.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0590.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.02 | 2.64 % | |
R2 | 21.81 | 1.66 % | ||
R1 | 21.68 | 1.06 % | ||
Current price: | 21.45 | |||
Support | S1 | 21.26 | -0.90 % | |
S2 | 21.13 | -1.51 % | ||
S3 | 20.92 | -2.49 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.25 | 3.73 % | |
R2 | 22.00 | 2.56 % | ||
R1 | 21.65 | 0.93 % | ||
Current price | 21.45 | |||
Support | S1 | 20.70 | -3.50% | |
S2 | 20.65 | -3.73% | ||
S3 | 20.55 | -4.20% |
0590 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 12, 2023 | Dec 12, 2023 | Dec 12, 2023 | HK$0 | 0% |
2 | Dec 09, 2022 | Dec 09, 2022 | Dec 09, 2022 | HK$0.550 | 2.55% |
3 | Aug 22, 2022 | Aug 22, 2022 | Aug 22, 2022 | HK$0.550 | 2.81% |
4 | Dec 10, 2021 | Dec 10, 2021 | Dec 10, 2021 | HK$0.550 | 2.43% |
5 | Aug 23, 2021 | Aug 23, 2021 | Aug 23, 2021 | HK$0.500 | 2.31% |
FAQ
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