Leoch International Technology Limited Stock Forecast
Green day on Wednesday for Leoch International Technology Limited stock after gaining 0.735%
(Updated on May 29, 2024)
The Leoch International Technology Limited stock price gained 0.735% on the last trading day (Wednesday, 29th May 2024), rising from HK$1.36 to HK$1.37. During the last trading day the stock fluctuated 3.01% from a day low at HK$1.33 to a day high of HK$1.37. The price has fallen in 6 of the last 10 days and is down by -7.43% for this period. Volume fell on the last day by -45 thousand shares and in total, 316 thousand shares were bought and sold for approximately HK$432.92 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 11.14% during the next 3 months and, with a 90% probability hold a price between HK$1.42 and HK$1.69 at the end of this 3-month period.
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0842.HK Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -8.67%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Leoch International Technology 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$1.38. On a fall, the stock will find some support from the long-term average at approximately HK$1.34. 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 Leoch International Technology Limited stock
Leoch International Technology Limited finds support from accumulated volume at HK$1.36 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0400 between high and low, or 3.01%. For the last week the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: HK$1.30 (-4.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (0842.HK) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Leoch International Technology Limited to open at HK$1.36, and during the day (based on 14 day Average True Range), to move between HK$1.32 and HK$1.42, which gives a possible trading interval of +/-HK$0.0542 (+/-3.95%) up or down from last closing price. If Leoch International Technology Limited takes out the full calculated possible swing range there will be an estimated 7.91% 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$1.36 (0.73%) than the resistance at HK$1.40 (2.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leoch International Technology 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: 1.020 Buy Candidate Unchanged
Predicted Opening Price for Leoch International Technology Limited of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| HK$1.36 ( 0.97%) | HK$1.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0842.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.40 | 1.95 % | |
| R2 | 1.38 | 0.83 % | ||
| R1 | 1.37 | 0.142 % | ||
| Current price: | 1.37 | |||
| Support | S1 | 1.34 | -2.09 % | |
| S2 | 1.33 | -2.78 % | ||
| S3 | 1.32 | -3.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.48 | 8.03 % | |
| R2 | 1.46 | 6.57 % | ||
| R1 | 1.40 | 2.19 % | ||
| Current price | 1.37 | |||
| Support | S1 | 1.36 | -0.730% | |
| S2 | 1.27 | -7.30% | ||
| S3 | 1.24 | -9.49% |
0842 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | HK$0 | 0% |
| 2 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | HK$0.100 | 8.20% |
| 3 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | HK$0.0200 | 4.60% |
| 4 | May 28, 2020 | May 28, 2020 | May 28, 2020 | HK$0.0200 | 4.21% |
| 5 | May 30, 2019 | May 30, 2019 | May 30, 2019 | HK$0.0200 | 3.13% |
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