Convenience Retail Asia Limited Stock Forecast
Convenience Retail Asia Limited stock price ended at HK$0.720 on Tuesday, after losing 2.70%.
(Updated on May 21, 2024)
The Convenience Retail Asia Limited stock price fell by -2.70% on the last day (Tuesday, 21st May 2024) from HK$0.740 to HK$0.720. During the last trading day the stock fluctuated 2.78% from a day low at HK$0.720 to a day high of HK$0.740. The price has been going up and down for this period, and there has been a 5.88% gain for the last 2 weeks. Volume has increased on the last day by 104 thousand 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, 112 thousand shares were bought and sold for approximately HK$80.64 thousand.
The stock lies in the middle of a wide and 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 12.40% during the next 3 months and, with a 90% probability hold a price between HK$0.741 and HK$0.89 at the end of this 3-month period.
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0831.HK Signals & Forecast
The Convenience Retail Asia 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$0.754. On a fall, the stock will find some support from the long-term average at approximately HK$0.682. 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. 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. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -7.69%. Further fall is indicated until a new bottom pivot has been found. Convenience Retail Asia Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, April 23, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, April 23, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Convenience Retail Asia Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.680 and HK$0.670. 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, Convenience Retail Asia Limited finds support just below today's level at HK$0.680. If this is broken, then the next support from accumulated volume will be at HK$0.670 and HK$0.650.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0200 between high and low, or 2.78%. For the last week, the stock has had daily average volatility of 1.91%.
Our recommended stop-loss: HK$0.686 (-4.74%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (0831.HK) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Convenience Retail Asia Limited to open at HK$0.727, and during the day (based on 14 day Average True Range), to move between HK$0.699 and HK$0.741, which gives a possible trading interval of +/-HK$0.0205 (+/-2.85%) up or down from last closing price. If Convenience Retail Asia Limited takes out the full calculated possible swing range there will be an estimated 5.70% 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$0.730 (1.39%) than the support at HK$0.680 (5.56%), 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.
Earnings coming up
Convenience Retail Asia Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Convenience Retail Asia Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0.98% in the first trading day after earnings release.
Is Convenience Retail Asia Limited stock A Buy?
Convenience Retail Asia 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.
Current score: -0.384 Hold/Accumulate Unchanged
Predicted Opening Price for Convenience Retail Asia Limited of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
HK$0.727 ( 0.93%) | HK$0.720 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0831.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.747 | 3.70 % | |
R2 | 0.739 | 2.64 % | ||
R1 | 0.734 | 1.99 % | ||
Current price: | 0.720 | |||
Support | S1 | 0.719 | -0.135 % | |
S2 | 0.714 | -0.791 % | ||
S3 | 0.707 | -1.85 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.780 | 8.33 % | |
R2 | 0.760 | 5.56 % | ||
R1 | 0.730 | 1.39 % | ||
Current price | 0.720 | |||
Support | S1 | 0.680 | -5.56% | |
S2 | 0.670 | -6.94% | ||
S3 | 0.650 | -9.72% |
0831 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 27, 2024 | May 27, 2024 | Jun 11, 2024 | HK$0.0400 | 5.41% |
2 | May 29, 2023 | May 29, 2023 | May 29, 2023 | HK$0.0500 | 5.95% |
3 | Aug 25, 2022 | Aug 25, 2022 | Aug 25, 2022 | HK$0.0200 | 2.38% |
4 | May 30, 2022 | May 30, 2022 | May 30, 2022 | HK$0.0500 | 5.81% |
5 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | HK$0.0200 | 2.53% |
FAQ
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