ZTE Corporation Stock Forecast
Red day on Monday for ZTE Corporation stock after losing 1.72%
(Updated on Jun 17, 2024)
The ZTE Corporation stock price fell by -1.72% on the last day (Monday, 17th Jun 2024) from HK$17.42 to HK$17.12. During the last trading day the stock fluctuated 2.11% from a day low at HK$17.08 to a day high of HK$17.44. The price has risen in 6 of the last 10 days and is up by 6.6% over the past 2 weeks. 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 -1 million shares and in total, 7 million shares were bought and sold for approximately HK$123.90 million.
The stock lies in the middle of a wide and weak 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 9.37% during the next 3 months and, with a 90% probability hold a price between HK$17.67 and HK$20.41 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0763.HK Signals & Forecast
The ZTE Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$16.97 and HK$16.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 6.60%. Further rise is indicated until a new top pivot has been found. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for ZTE Corporation stock
ZTE Corporation finds support from accumulated volume at HK$16.88 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$0.360 between high and low, or 2.11%. For the last week, the stock has had daily average volatility of 2.86%.
Our recommended stop-loss: HK$16.10 (-5.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (0763.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect ZTE Corporation to open at HK$17.21, and during the day (based on 14 day Average True Range), to move between HK$16.59 and HK$17.65, which gives a possible trading interval of +/-HK$0.530 (+/-3.09%) up or down from last closing price. If ZTE Corporation takes out the full calculated possible swing range there will be an estimated 6.19% 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$17.18 (0.35%) than the support at HK$16.88 (1.40%), 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 ZTE Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ZTE Corporation stock to perform well in the short-term.
Current score: 1.746 Buy Candidate Unchanged
Predicted Opening Price for ZTE Corporation of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$17.21 ( 0.545%) | HK$17.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0763.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.57 | 2.65% |
| R2 | 17.44 | 1.84% |
| R1 | 17.35 | 1.35% |
| Price | 17.12 | |
| S1 | 17.08 | -0.258% |
| S2 | 16.99 | -0.754% |
| S3 | 16.85 | -1.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.94 | 4.79% |
| R2 | 17.22 | 0.584% |
| R1 | 17.18 | 0.350% |
| Price | 17.12 | |
| S1 | 16.88 | -1.40% |
| S2 | 16.36 | -4.44% |
| S3 | 15.60 | -8.88% |
0763 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2024 | Jul 04, 2024 | Jul 31, 2024 | HK$0.736 | 4.30% |
| 2 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | HK$0.457 | 1.89% |
| 3 | Apr 26, 2022 | Apr 26, 2022 | Apr 26, 2022 | HK$0.368 | 2.32% |
| 4 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | HK$0.240 | 0.99% |
| 5 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | HK$0.219 | 0.91% |
FAQ
Click here for our free guide on how to buy ZTE Corporation Stock.
