Digital China Holdings Limited Stock Forecast
Digital China Holdings Limited stock price took a fall of -5.99% on Tuesday
(Updated on Jul 02, 2024)
The Digital China Holdings Limited stock price fell by -5.99% on the last day (Tuesday, 2nd Jul 2024) from HK$3.34 to HK$3.14. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 7.12% from a day low at HK$3.09 to a day high of HK$3.31. The price has fallen in 4 of the last 10 days and is down by -7.37% for this period. Volume has increased on the last day by 3 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, 11 million shares were bought and sold for approximately HK$33.58 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$3.07 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 9.72% during the next 3 months and, with a 90% probability hold a price between HK$3.37 and HK$4.10 at the end of this 3-month period.
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0861.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Digital China Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$3.37 and HK$3.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -13.74%. 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.
Support, Risk & Stop-loss for Digital China Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$2.98 and HK$2.85. 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, Digital China Holdings Limited finds support just below today's level at HK$2.98. If this is broken, then the next support from accumulated volume will be at HK$2.85 and HK$2.83.
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$0.220 (7.12%) between high and low. For the last week, the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0861.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Digital China Holdings Limited to open at HK$3.18, and during the day (based on 14 day Average True Range), to move between HK$3.05 and HK$3.23, which gives a possible trading interval of +/-HK$0.0895 (+/-2.85%) up or down from last closing price. If Digital China Holdings 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$3.25 (3.50%) than the support at HK$2.98 (5.10%), 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 Digital China Holdings Limited stock A Buy?
The Digital China Holdings Limited stock holds several negative signals and despite the positive trend, we believe Digital China Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.551 Sell Candidate Upgraded
Predicted Opening Price for Digital China Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$3.18 ( 1.27%) | HK$3.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0861.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.40 | 8.28% |
| R2 | 3.32 | 5.60% |
| R1 | 3.26 | 3.95% |
| Price | 3.14 | |
| S1 | 3.10 | -1.40% |
| S2 | 3.04 | -3.06% |
| S3 | 2.96 | -5.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.43 | 9.24% |
| R2 | 3.26 | 3.82% |
| R1 | 3.25 | 3.50% |
| Price | 3.14 | |
| S1 | 2.98 | -5.10% |
| S2 | 2.85 | -9.24% |
| S3 | 2.83 | -9.87% |
0861 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 02, 2024 | Jul 02, 2024 | Jul 16, 2024 | HK$0.0600 | 1.91% |
| 2 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | HK$0.0100 | 0.388% |
| 3 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | HK$0.0450 | 1.44% |
| 4 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | HK$0.0230 | 0.671% |
| 5 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$0.130 | 3.54% |
FAQ
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