China Literature Limited Stock Forecast
China Literature Limited stock price down 0.369% on Tuesday
(Updated on May 28, 2024)
The China Literature Limited stock price fell by -0.369% on the last day (Tuesday, 28th May 2024) from HK$27.10 to HK$27.00. During the last trading day the stock fluctuated 3.36% from a day low at HK$26.80 to a day high of HK$27.70. The price has fallen in 7 of the last 10 days and is down by -14.56% 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 -1 million shares and in total, 2 million shares were bought and sold for approximately HK$48.27 million.
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$26.48 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 17.80% during the next 3 months and, with a 90% probability hold a price between HK$31.19 and HK$38.56 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.
0772.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Literature Limited 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$27.84 and HK$28.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -15.76%. 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 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 China Literature Limited stock
China Literature Limited finds support from accumulated volume at HK$26.40 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$0.90 between high and low, or 3.36%. For the last week, the stock has had daily average volatility of 4.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0772.HK) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect China Literature Limited to open at HK$27.17, and during the day (based on 14 day Average True Range), to move between HK$25.56 and HK$28.44, which gives a possible trading interval of +/-HK$1.44 (+/-5.34%) up or down from last closing price. If China Literature Limited takes out the full calculated possible swing range there will be an estimated 10.69% 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$26.40 (2.22%) than the resistance at HK$28.10 (4.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
China Literature Limited will release earnings BMO on Monday, June 03, 2024. We will update the financials statements for China Literature Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.00% in the first trading day after earnings release.
Is China Literature Limited stock A Buy?
The China Literature Limited stock holds several negative signals and despite the positive trend, we believe China Literature Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.934 Sell Candidate Unchanged
Predicted Opening Price for China Literature Limited of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| HK$27.17 ( 0.617%) | HK$27.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0772.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.07 | 3.95 % | |
| R2 | 27.72 | 2.68 % | ||
| R1 | 27.51 | 1.89 % | ||
| Current price: | 27.00 | |||
| Support | S1 | 26.82 | -0.656 % | |
| S2 | 26.61 | -1.44 % | ||
| S3 | 26.27 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.90 | 10.74 % | |
| R2 | 29.70 | 10.00 % | ||
| R1 | 28.10 | 4.07 % | ||
| Current price | 27.00 | |||
| Support | S1 | 26.40 | -2.22% | |
| S2 | 26.15 | -3.15% | ||
| S3 | 25.35 | -6.11% |
FAQ
Click here for our free guide on how to buy China Literature Limited Stock.
