Dongwu Cement International Limited Stock Forecast
Dongwu Cement International Limited stock price down 1.73% on Thursday
(Updated on Jul 04, 2024)
The Dongwu Cement International Limited stock price fell by -1.73% on the last day (Thursday, 4th Jul 2024) from HK$1.73 to HK$1.70. During the last trading day the stock fluctuated 7.45% from a day low at HK$1.61 to a day high of HK$1.73. The price has been going up and down for this period, and there has been a 9.68% gain for the last 2 weeks. Volume has increased on the last day by 124 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, 146 thousand shares were bought and sold for approximately HK$248.20 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$1.77 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -21.41% during the next 3 months and, with a 90% probability hold a price between HK$1.02 and HK$1.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0695.HK Signals & Forecast
The Dongwu Cement International Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$1.62 and HK$1.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 25.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Dongwu Cement International 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 Dongwu Cement International Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$1.56 and HK$1.52. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Dongwu Cement International Limited finds support just below today's level at HK$1.56. If this is broken, then the next support from accumulated volume will be at HK$1.52 and HK$1.43.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.120 between high and low, or 7.45%. For the last week, the stock has had daily average volatility of 9.88%.
Our recommended stop-loss: HK$1.62 (-4.44%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (0695.HK) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Dongwu Cement International Limited to open at HK$1.68, and during the day (based on 14 day Average True Range), to move between HK$1.51 and HK$1.89, which gives a possible trading interval of +/-HK$0.189 (+/-11.11%) up or down from last closing price. If Dongwu Cement International Limited takes out the full calculated possible swing range there will be an estimated 22.23% 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$1.71 (0.59%) than the support at HK$1.56 (8.24%), 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 Dongwu Cement International Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.164 Buy Candidate Unchanged
Predicted Opening Price for Dongwu Cement International Limited of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
HK$1.68 ( 1.18%) | HK$1.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0695.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.80 | 5.88% |
R2 | 1.75 | 3.19% |
R1 | 1.73 | 1.52% |
Price | 1.70 | |
S1 | 1.63 | -3.87% |
S2 | 1.61 | -5.54% |
S3 | 1.56 | -8.24% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.89 | 11.18% |
R2 | 1.88 | 10.59% |
R1 | 1.71 | 0.588% |
Price | 1.70 | |
S1 | 1.56 | -8.24% |
S2 | 1.52 | -10.59% |
S3 | 1.43 | -15.88% |
0695 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 17, 2021 | Sep 17, 2021 | Sep 17, 2021 | HK$0.0725 | 1.28% |
2 | Sep 11, 2020 | Sep 11, 2020 | Sep 11, 2020 | HK$0.0725 | 6.04% |
3 | May 30, 2019 | May 30, 2019 | May 30, 2019 | HK$0.0725 | 4.87% |
FAQ
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