China Unicom (Hong Kong) Limited Stock Forecast
China Unicom (Hong Kong) Limited stock price down 1.01% on Friday
(Updated on May 03, 2024)
The China Unicom (Hong Kong) Limited stock price fell by -1.01% on the last day (Friday, 3rd May 2024) from HK$5.93 to HK$5.87. During the last trading day the stock fluctuated 2.39% from a day low at HK$5.86 to a day high of HK$6.00. The price has fallen in 6 of the last 10 days and is down by -1.34% for this period. Volume has increased on the last day by 5 million 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, 17 million shares were bought and sold for approximately HK$99.50 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.24% during the next 3 months and, with a 90% probability hold a price between HK$6.42 and HK$6.86 at the end of this 3-month period.
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0762.HK Signals & Forecast
A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -4.08%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The China Unicom (Hong Kong) 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$5.97. On a fall, the stock will find some support from the long-term average at approximately HK$5.77. 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.
Support, Risk & Stop-loss for China Unicom (Hong Kong) Limited stock
China Unicom (Hong Kong) Limited finds support from accumulated volume at HK$5.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.140 (2.39%) between high and low. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: HK$5.62 (-4.25%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (0762.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Unicom (Hong Kong) Limited to open at HK$5.91, and during the day (based on 14 day Average True Range), to move between HK$5.73 and HK$6.01, which gives a possible trading interval of +/-HK$0.137 (+/-2.33%) up or down from last closing price. If China Unicom (Hong Kong) Limited takes out the full calculated possible swing range there will be an estimated 4.67% 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$5.92 (0.85%) than the support at HK$5.82 (0.85%), 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 China Unicom (Hong Kong) Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.504 Buy Candidate Unchanged
Predicted Opening Price for China Unicom (Hong Kong) Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$5.91 ( 0.681%) | HK$5.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0762.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.05 | 3.07 % | |
| R2 | 6.00 | 2.16 % | ||
| R1 | 5.96 | 1.59 % | ||
| Current price: | 5.87 | |||
| Support | S1 | 5.86 | -0.230 % | |
| S2 | 5.82 | -0.793 % | ||
| S3 | 5.77 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.98 | 1.87 % | |
| R2 | 5.95 | 1.36 % | ||
| R1 | 5.92 | 0.85 % | ||
| Current price | 5.87 | |||
| Support | S1 | 5.82 | -0.85% | |
| S2 | 5.65 | -3.75% | ||
| S3 | 5.51 | -6.13% |
0762 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 26, 2024 | HK$0.145 | 2.47% |
| 2 | May 23, 2023 | May 23, 2023 | May 23, 2023 | HK$0.122 | 2.03% |
| 3 | Sep 01, 2022 | Sep 01, 2022 | Sep 01, 2022 | HK$0.191 | 5.25% |
| 4 | May 19, 2022 | May 19, 2022 | May 19, 2022 | HK$0.112 | 3.06% |
| 5 | Sep 02, 2021 | Sep 02, 2021 | Sep 02, 2021 | HK$0.144 | 3.48% |
FAQ
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