Comtec Solar Systems Group Limited Stock Forecast
Comtec Solar Systems Group Limited stock price down 0.654% on Friday
(Updated on May 31, 2024)
The Comtec Solar Systems Group Limited stock price fell by -0.654% on the last day (Friday, 31st May 2024) from HK$0.153 to HK$0.152. During the last trading day the stock fluctuated 0% from a day low at HK$0.152 to a day high of HK$0.152. The price has fallen in 5 of the last 10 days but is still up by 0.66% over the past 2 weeks. Volume has increased on the last day by 140 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, 150 thousand shares were bought and sold for approximately HK$22.80 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.71% during the next 3 months and, with a 90% probability hold a price between HK$0.119 and HK$0.151 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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0712.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -5.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Comtec Solar Systems Group 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". The very low volume increases the risk and reduces the other technical signals issued. The Comtec Solar Systems Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.152 and HK$0.149. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Comtec Solar Systems Group Limited stock
Comtec Solar Systems Group Limited finds support from accumulated volume at HK$0.151 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$0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 3.00%.
Our recommended stop-loss: HK$0.147 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (0712.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Comtec Solar Systems Group Limited to open at HK$0.152, and during the day (based on 14 day Average True Range), to move between HK$0.145 and HK$0.159, which gives a possible trading interval of +/-HK$0.0071 (+/-4.66%) up or down from last closing price. If Comtec Solar Systems Group Limited takes out the full calculated possible swing range there will be an estimated 9.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.151 (0.66%) than the resistance at HK$0.154 (1.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Comtec Solar Systems Group Limited stock A Buy?
Comtec Solar Systems Group 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.
Current score: 0.142 Hold/Accumulate Unchanged
Predicted Opening Price for Comtec Solar Systems Group Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$0.152 ( 0%) | HK$0.152 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0712.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.152 | . | |
| R2 | 0.152 | . | ||
| R1 | 0.152 | . | ||
| Current price: | 0.152 | |||
| Support | S1 | 0.152 | . | |
| S2 | 0.152 | . | ||
| S3 | 0.152 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.173 | 13.82 % | |
| R2 | 0.158 | 3.95 % | ||
| R1 | 0.154 | 1.32 % | ||
| Current price | 0.152 | |||
| Support | S1 | 0.151 | -0.658% | |
| S2 | 0.150 | -1.32% | ||
| S3 | 0.139 | -8.55% |
0712 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2010 | May 14, 2010 | May 14, 2010 | HK$0.0332 | 0.488% |
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