Asia Cement (China) Holdings Corporation Stock Forecast
Asia Cement (China) Holdings Corporation stock upgraded from Strong Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The Asia Cement (China) Holdings Corporation stock price gained 2.04% on the last trading day (Thursday, 28th Mar 2024), rising from HK$1.96 to HK$2.00. During the last trading day the stock fluctuated 6.70% from a day low at HK$1.94 to a day high of HK$2.07. The price has fallen in 7 of the last 10 days and is down by -7.83% for this period. Volume fell on the last day by -121 thousand shares and in total, 1 million shares were bought and sold for approximately HK$2.29 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 of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$1.96 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.69% during the next 3 months and, with a 90% probability hold a price between HK$1.79 and HK$2.03 at the end of this 3-month period.
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0743.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 2.04%. Further rise is indicated until a new top pivot has been found. 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 Asia Cement (China) Holdings Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$2.07 and HK$2.16. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Asia Cement (China) Holdings Corporation stock
Asia Cement (China) Holdings Corporation finds support from accumulated volume at HK$1.96 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$0.130 between high and low, or 6.70%. For the last week, the stock has had daily average volatility of 4.88%.
Our recommended stop-loss: HK$1.90 (-5.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (0743.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Asia Cement (China) Holdings Corporation to open at HK$2.00, and during the day (based on 14 day Average True Range), to move between HK$1.92 and HK$2.08, which gives a possible trading interval of +/-HK$0.0821 (+/-4.11%) up or down from last closing price. If Asia Cement (China) Holdings Corporation takes out the full calculated possible swing range there will be an estimated 8.21% 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$1.96 (2.00%) than the resistance at HK$2.11 (5.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Asia Cement (China) Holdings Corporation stock A Buy?
Asia Cement (China) Holdings Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.629 Hold/Accumulate Upgraded
Predicted Opening Price for Asia Cement (China) Holdings Corporation of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$2.00 ( 0.167%) | HK$2.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0743.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.13 | 6.67 % | |
R2 | 2.08 | 4.18 % | ||
R1 | 2.05 | 2.65 % | ||
Current price: | 2.00 | |||
Support | S1 | 1.95 | -2.32 % | |
S2 | 1.92 | -3.85 % | ||
S3 | 1.87 | -6.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.22 | 11.00 % | |
R2 | 2.17 | 8.50 % | ||
R1 | 2.11 | 5.50 % | ||
Current price | 2.00 | |||
Support | S1 | 1.96 | -2.00% | |
S2 | 0 | . | ||
S3 | 0 | . |
0743 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 05, 2024 | Jul 05, 2024 | Jul 19, 2024 | HK$0.0446 | 2.25% |
2 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | HK$0.176 | 5.06% |
3 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.450 | 10.66% |
4 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | HK$0.527 | 12.26% |
5 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | HK$0.621 | 9.47% |
FAQ
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