BOE Varitronix Limited Stock Forecast
Evaluation of BOE Varitronix Limited stock downgraded after the last trading session.
(Updated on May 08, 2024)
The BOE Varitronix Limited stock price fell by -1.95% on the last day (Wednesday, 8th May 2024) from HK$5.65 to HK$5.54. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.36% from a day low at HK$5.51 to a day high of HK$5.75. The price has risen in 6 of the last 10 days and is up by 24.49% over the past 2 weeks. Volume has increased on the last day by 829 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, 3 million shares were bought and sold for approximately HK$14.12 million.
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$5.75 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 -8.61% during the next 3 months and, with a 90% probability hold a price between HK$3.92 and HK$5.26 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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0710.HK Signals & Forecast
The BOE Varitronix Limited 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$5.60. On a fall, the stock will find some support from the long-term average at approximately HK$4.96. 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. 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 Friday, May 03, 2024, and so far it has fallen -4.15%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for BOE Varitronix Limited stock
BOE Varitronix Limited finds support from accumulated volume at HK$5.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.240 between high and low, or 4.36%. For the last week, the stock has had daily average volatility of 5.05%.
Our recommended stop-loss: HK$5.33 (-3.83%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (0710.HK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect BOE Varitronix Limited to open at HK$5.60, and during the day (based on 14 day Average True Range), to move between HK$5.28 and HK$5.80, which gives a possible trading interval of +/-HK$0.256 (+/-4.61%) up or down from last closing price. If BOE Varitronix Limited takes out the full calculated possible swing range there will be an estimated 9.23% 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$5.64 (1.81%) than the support at HK$5.38 (2.89%), 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 BOE Varitronix Limited stock A Buy?
BOE Varitronix Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.312 Hold/Accumulate Downgraded
Predicted Opening Price for BOE Varitronix Limited of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
HK$5.60 ( 1.08%) | HK$5.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0710.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.84 | 5.42 % | |
R2 | 5.75 | 3.76 % | ||
R1 | 5.69 | 2.74 % | ||
Current price: | 5.54 | |||
Support | S1 | 5.51 | -0.572 % | |
S2 | 5.45 | -1.59 % | ||
S3 | 5.36 | -3.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.78 | 4.33 % | |
R2 | 5.66 | 2.17 % | ||
R1 | 5.64 | 1.81 % | ||
Current price | 5.54 | |||
Support | S1 | 5.38 | -2.89% | |
S2 | 5.18 | -6.50% | ||
S3 | 4.64 | -16.25% |
0710 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 05, 2024 | Jul 05, 2024 | Jul 19, 2024 | HK$0.190 | 3.43% |
2 | Jul 05, 2023 | Jul 05, 2023 | Jul 05, 2023 | HK$0.230 | 1.97% |
3 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.150 | 1.07% |
4 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | HK$0.0500 | 0.766% |
5 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | HK$0.250 | 10.96% |
FAQ
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