Techtronic Industries Company Limited Stock Forecast
Green day on Friday for Techtronic Industries Company Limited stock after gaining 0.94%
(Updated on May 17, 2024)
The Techtronic Industries Company Limited stock price gained 0.94% on the last trading day (Friday, 17th May 2024), rising from HK$106.10 to HK$107.10. During the last trading day the stock fluctuated 3.00% from a day low at HK$106.60 to a day high of HK$109.80. The price has risen in 6 of the last 10 days and is up by 1.23% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 5 million shares were bought and sold for approximately HK$553.30 million. 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 lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$105.19 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 30.06% during the next 3 months and, with a 90% probability hold a price between HK$136.81 and HK$150.30 at the end of this 3-month period.
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0669.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Techtronic Industries Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$110.33 and HK$107.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -6.22%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Techtronic Industries Company Limited stock
Techtronic Industries Company Limited finds support from accumulated volume at HK$106.10 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$3.20 between high and low, or 3.00%. For the last week, the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0669.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Techtronic Industries Company Limited to open at HK$107.83, and during the day (based on 14 day Average True Range), to move between HK$103.14 and HK$111.06, which gives a possible trading interval of +/-HK$3.96 (+/-3.70%) up or down from last closing price. If Techtronic Industries Company Limited takes out the full calculated possible swing range there will be an estimated 7.40% 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$108.00 (0.84%) than the support at HK$106.10 (0.93%), 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 Techtronic Industries Company Limited stock A Buy?
The Techtronic Industries Company Limited stock holds several negative signals and despite the positive trend, we believe Techtronic Industries Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.686 Sell Candidate Unchanged
Predicted Opening Price for Techtronic Industries Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$107.83 ( 0.685%) | HK$107.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0669.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.03 | 3.67 % | |
| R2 | 109.81 | 2.53 % | ||
| R1 | 109.06 | 1.83 % | ||
| Current price: | 107.10 | |||
| Support | S1 | 106.61 | -0.457 % | |
| S2 | 105.86 | -1.16 % | ||
| S3 | 104.63 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 109.10 | 1.87 % | |
| R2 | 108.80 | 1.59 % | ||
| R1 | 108.00 | 0.84 % | ||
| Current price | 107.10 | |||
| Support | S1 | 106.10 | -0.93% | |
| S2 | 104.50 | -2.43% | ||
| S3 | 102.50 | -4.30% |
0669 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jul 05, 2024 | HK$0.98 | 0.91% |
| 2 | May 17, 2023 | May 17, 2023 | May 17, 2023 | HK$0.90 | 1.14% |
| 3 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | HK$0.95 | 1.00% |
| 4 | May 18, 2022 | May 18, 2022 | May 18, 2022 | HK$1.00 | 0.94% |
| 5 | Aug 31, 2021 | Aug 31, 2021 | Aug 31, 2021 | HK$0.85 | 0.493% |
FAQ
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