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AI Analysis of 0746.HK
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Lee & Man Chemical Company Limited stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 17, 2024)

Buy or Hold candidate since Apr 23, 2024 Gain 19.20% PDF

The Lee & Man Chemical Company Limited stock price fell by -1.53% on the last day (Monday, 17th Jun 2024) from HK$3.91 to HK$3.85. During the last trading day the stock fluctuated 1.56% from a day low at HK$3.85 to a day high of HK$3.91. The price has fallen in 5 of the last 10 days and is down by -2.28% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -30 thousand shares and in total, 116 thousand shares were bought and sold for approximately HK$446.60 thousand.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$3.77 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 27.41% during the next 3 months and, with a 90% probability hold a price between HK$4.80 and HK$5.67 at the end of this 3-month period.

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0746.HK Signals & Forecast

The Lee & Man Chemical Company 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$3.91. On a fall, the stock will find some support from the long-term average at approximately HK$3.80. 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. 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 Monday, May 20, 2024, and so far it has fallen -7.00%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Lee & Man Chemical Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$3.35 and HK$3.27. 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, Lee & Man Chemical Company Limited finds support just below today's level at HK$3.35. If this is broken, then the next support from accumulated volume will be at HK$3.27 and HK$3.14.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0600 between high and low, or 1.56%. For the last week the stock has had daily average volatility of 0.773%

Our recommended stop-loss: HK$3.61 (-6.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (0746.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Lee & Man Chemical Company Limited to open at HK$3.87, and during the day (based on 14 day Average True Range), to move between HK$3.78 and HK$3.92, which gives a possible trading interval of +/-HK$0.0716 (+/-1.86%) up or down from last closing price. If Lee & Man Chemical Company Limited takes out the full calculated possible swing range there will be an estimated 3.72% 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$3.90 (1.30%) than the support at HK$3.35 (12.99%), 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 Lee & Man Chemical Company Limited stock A Buy?

Lee & Man Chemical Company 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: 0.789 Hold/Accumulate Downgraded

Predicted Opening Price for Lee & Man Chemical Company Limited of Tuesday, June 18, 2024

Fair opening price June 18, 2024 Current price
HK$3.87 ( 0.519%) HK$3.85

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 0746.HK

Fibonacci Support & Resistance Levels

Level Price
R3 3.93 2.08%
R2 3.91 1.48%
R1 3.89 1.11%
Price 3.85
S1 3.85 -0.0758%
S2 3.83 -0.444%
S3 3.81 -1.04%

Accumulated Volume Support & Resistance Levels

Level Price
R3 3.93 2.08%
R2 3.91 1.56%
R1 3.90 1.30%
Price 3.85
S1 3.35 -12.99%
S2 3.27 -15.06%
S3 3.14 -18.44%

0746 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 13, 2024 May 13, 2024 Jun 05, 2024 HK$0.140 3.66%
2 Aug 11, 2023 Aug 11, 2023 Sep 05, 2023 HK$0.0500 1.55%
3 May 11, 2023 May 11, 2023 May 11, 2023 HK$0.170 3.41%
4 Aug 19, 2022 Aug 19, 2022 Aug 19, 2022 HK$0.380 5.42%
5 May 16, 2022 May 16, 2022 May 16, 2022 HK$0.320 4.99%

FAQ

What is the symbol for Lee & Man Chemical Company Limited Stock and on which exchange is it traded?
The symbol for Lee & Man Chemical Company Limited is 0746.HK and it is traded on the HKEX (Hong Kong Stock Exchange).

Should I buy or sell Lee & Man Chemical Company Limited Stock?
Lee & Man Chemical Company 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.

How to buy Lee & Man Chemical Company Limited Stock?
Lee & Man Chemical Company Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Lee & Man Chemical Company Limited Stock.

What's the current price of Lee & Man Chemical Company Limited Stock?
As of the end of day on the Jun 17, 2024, the price of an Lee & Man Chemical Company Limited (0746.HK) share was HK$3.85.

What is the 52-week high and low for Lee & Man Chemical Company Limited Stock?
The 52-week high for Lee & Man Chemical Company Limited Stock is HK$5.00 and the 52-week low is HK$2.67.

What is the market capitalization of Lee & Man Chemical Company Limited Stock?
As of the Jun 17, 2024, the market capitalization of Lee & Man Chemical Company Limited is 3.176B.

When is the next earnings date for Lee & Man Chemical Company Limited?
The upcoming earnings date for Lee & Man Chemical Company Limited is May 16, 2025.
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About Lee & Man Chemical Company Limited

Lee & Man Chemical Company Limited, an investment holding company, manufactures and sells chemical products in the People's Republic of China. It operates through two segments, Chemical and Property. The company offers caustic soda, chloromethane products, polymers, hydrogen peroxide, fluorochemical products, polytetrafluoroethylene, liquified chlorine, and other products, as well as provides styrene acrylic latex surface sizing agent and lithium... 0746.HK Profile

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