Sinopec Kantons Holdings Limited Stock Forecast
Sinopec Kantons Holdings Limited stock price up 0.503% on Thursday
(Updated on Jun 20, 2024)
The Sinopec Kantons Holdings Limited stock price gained 0.503% on the last trading day (Thursday, 20th Jun 2024), rising from HK$3.98 to HK$4.00. During the last trading day the stock fluctuated 4.81% from a day low at HK$3.95 to a day high of HK$4.14. The price has risen in 5 of the last 10 days and is up by 3.63% 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, 11 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately HK$56.14 million.
The stock lies in the middle of a weak 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 7.76% during the next 3 months and, with a 90% probability hold a price between HK$4.14 and HK$4.51 at the end of this 3-month period.
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0934.HK Signals & Forecast
The Sinopec Kantons Holdings 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$3.97 and HK$3.93. 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 Tuesday, April 30, 2024, and so far it has fallen -0.249%. 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 Sinopec Kantons Holdings Limited stock
Sinopec Kantons Holdings Limited finds support from accumulated volume at HK$3.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.190 between high and low, or 4.81%. For the last week the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: HK$3.84 (-3.97%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (0934.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Sinopec Kantons Holdings Limited to open at HK$4.03, and during the day (based on 14 day Average True Range), to move between HK$3.88 and HK$4.12, which gives a possible trading interval of +/-HK$0.115 (+/-2.88%) up or down from last closing price. If Sinopec Kantons Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.76% 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$4.01 (0.25%) than the support at HK$3.98 (0.50%), 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 Sinopec Kantons Holdings 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 Sinopec Kantons Holdings Limited stock to perform well in the short-term.
Current score: 4.767 Buy Candidate Unchanged
Predicted Opening Price for Sinopec Kantons Holdings Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$4.03 ( 0.750%) | HK$4.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0934.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.22 | 5.50% |
| R2 | 4.15 | 3.69% |
| R1 | 4.10 | 2.56% |
| Price | 4.00 | |
| S1 | 3.96 | -1.06% |
| S2 | 3.91 | -2.19% |
| S3 | 3.84 | -4.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 4.01 | 0.250% |
| Price | 4.00 | |
| S1 | 3.98 | -0.500% |
| S2 | 3.95 | -1.25% |
| S3 | 3.84 | -4.00% |
0934 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jun 28, 2024 | HK$0.150 | 3.73% |
| 2 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | HK$0.100 | 3.18% |
| 3 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | HK$0.120 | 4.21% |
| 4 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | HK$0.0800 | 3.39% |
| 5 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$0.120 | 4.72% |
FAQ
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