China Qinfa Group Limited Stock Forecast
Volatile ride for China Qinfa Group Limited stock price on Thursday moving between HK$0.590 and HK$0.660
(Updated on May 02, 2024)
The China Qinfa Group Limited stock price gained 4.92% on the last trading day (Thursday, 2nd May 2024), rising from HK$0.610 to HK$0.640. During the last trading day the stock fluctuated 11.86% from a day low at HK$0.590 to a day high of HK$0.660. The price has fallen in 5 of the last 10 days but is still up by 8.47% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$5.83 million.
The stock lies in the middle of a very 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 45.31% during the next 3 months and, with a 90% probability hold a price between HK$0.761 and HK$1.05 at the end of this 3-month period.
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0866.HK Signals & Forecast
The China Qinfa Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.633 and HK$0.563. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, April 19, 2024, and so far it has fallen -7.25%. 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).
Support, Risk & Stop-loss for China Qinfa Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.600 and HK$0.540. 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, China Qinfa Group Limited finds support just below today's level at HK$0.600. If this is broken, then the next support from accumulated volume will be at HK$0.540 and HK$0.530.
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$0.0700 between high and low, or 11.86%. For the last week, the stock has had daily average volatility of 7.27%.
Our recommended stop-loss: HK$0.604 (-5.58%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (0866.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect China Qinfa Group Limited to open at HK$0.630, and during the day (based on 14 day Average True Range), to move between HK$0.592 and HK$0.688, which gives a possible trading interval of +/-HK$0.0480 (+/-7.50%) up or down from last closing price. If China Qinfa Group Limited takes out the full calculated possible swing range there will be an estimated 15.00% 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$0.660 (3.13%) than the support at HK$0.600 (6.25%), 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 China Qinfa Group Limited 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 China Qinfa Group Limited stock to perform well in the short-term.
Current score: 4.013 Buy Candidate Unchanged
Predicted Opening Price for China Qinfa Group Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$0.630 ( 1.56%) | HK$0.640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0866.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.700 | 9.38 % | |
| R2 | 0.673 | 5.20 % | ||
| R1 | 0.657 | 2.62 % | ||
| Current price: | 0.640 | |||
| Support | S1 | 0.603 | -5.74 % | |
| S2 | 0.587 | -8.32 % | ||
| S3 | 0.560 | -12.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.690 | 7.81 % | ||
| R1 | 0.660 | 3.13 % | ||
| Current price | 0.640 | |||
| Support | S1 | 0.600 | -6.25% | |
| S2 | 0.540 | -15.63% | ||
| S3 | 0.530 | -17.19% |
0866 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 30, 2013 | Oct 30, 2013 | Oct 30, 2013 | HK$0.0100 | 1.64% |
| 2 | May 31, 2013 | May 31, 2013 | May 31, 2013 | HK$0.0300 | 3.85% |
| 3 | Oct 04, 2012 | Oct 04, 2012 | Oct 04, 2012 | HK$0.0200 | 2.17% |
FAQ
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