Hisense Home Appliances Group Co., Ltd. Stock Forecast
Stronger technical forecast for Hisense Home Appliances Group Co., Ltd. stock price after Wednesday trading.
(Updated on May 08, 2024)
The Hisense Home Appliances Group Co., Ltd. stock price fell by -0.423% on the last day (Wednesday, 8th May 2024) from HK$35.50 to HK$35.35. During the last trading day the stock fluctuated 2.00% from a day low at HK$35.00 to a day high of HK$35.70. The price has risen in 6 of the last 10 days and is up by 20.65% over the past 2 weeks. 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$64.49 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$35.73 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 56.07% during the next 3 months and, with a 90% probability hold a price between HK$44.14 and HK$55.76 at the end of this 3-month period.
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0921.HK Signals & Forecast
The Hisense Home Appliances Group Co., Ltd. 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$33.80 and HK$28.00. A breakdown below any of these levels will issue sell signals. 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 Tuesday, May 07, 2024, and so far it has fallen -0.423%. 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 Hisense Home Appliances Group Co., Ltd. stock
Hisense Home Appliances Group Co., Ltd. finds support from accumulated volume at HK$35.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.700 between high and low, or 2.00%. For the last week, the stock has had daily average volatility of 3.36%.
The Hisense Home Appliances Group Co., Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$34.09 (-3.56%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (0921.HK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Hisense Home Appliances Group Co., Ltd. to open at HK$35.35, and during the day (based on 14 day Average True Range), to move between HK$34.00 and HK$36.70, which gives a possible trading interval of +/-HK$1.35 (+/-3.81%) up or down from last closing price. If Hisense Home Appliances Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.62% 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$35.30 (0.14%) than the resistance at HK$35.50 (0.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hisense Home Appliances Group Co., Ltd. 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 Hisense Home Appliances Group Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.631 Buy Candidate Upgraded
Predicted Opening Price for Hisense Home Appliances Group Co., Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| HK$35.35 ( 0%) | HK$35.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0921.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.05 | 1.98 % | |
| R2 | 35.78 | 1.22 % | ||
| R1 | 35.62 | 0.756 % | ||
| Current price: | 35.35 | |||
| Support | S1 | 35.08 | -0.756 % | |
| S2 | 34.92 | -1.22 % | ||
| S3 | 34.65 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 35.50 | 0.424 % | ||
| Current price | 35.35 | |||
| Support | S1 | 35.30 | -0.141% | |
| S2 | 33.05 | -6.51% | ||
| S3 | 28.60 | -19.09% |
0921 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | HK$0.563 | 3.19% |
| 2 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | HK$0.251 | 2.83% |
| 3 | Jun 29, 2021 | Jun 29, 2021 | Jun 29, 2021 | HK$0.417 | 3.94% |
| 4 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | HK$0.432 | 4.80% |
| 5 | Jul 03, 2019 | Jul 03, 2019 | Jul 03, 2019 | HK$0.344 | 3.48% |
FAQ
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