Lianhua Supermarket Holdings Co., Ltd. Stock Forecast
Evaluation of Lianhua Supermarket Holdings Co., Ltd. stock downgraded after the last trading session.
(Updated on Jun 20, 2024)
The Lianhua Supermarket Holdings Co., Ltd. stock price fell by -1.05% on the last day (Thursday, 20th Jun 2024) from HK$0.475 to HK$0.470. During the last trading day the stock fluctuated 1.06% from a day low at HK$0.470 to a day high of HK$0.475. The price has fallen in 4 of the last 10 days but is still up by 1.08% over the past 2 weeks. Volume has increased on the last day by 308 thousand 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, 308 thousand shares were bought and sold for approximately HK$144.76 thousand.
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 196.46% during the next 3 months and, with a 90% probability hold a price between HK$1.22 and HK$1.61 at the end of this 3-month period.
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0980.HK Signals & Forecast
The Lianhua Supermarket Holdings Co., Ltd. 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$0.476. On a fall, the stock will find some support from the long-term average at approximately HK$0.396. 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. 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, June 07, 2024, and so far it has fallen -5.05%. 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). Lianhua Supermarket Holdings Co., Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Lianhua Supermarket Holdings Co., Ltd. stock
Lianhua Supermarket Holdings Co., Ltd. finds support from accumulated volume at HK$0.450 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$0.0050 between high and low, or 1.06%. For the last week, the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: HK$0.449 (-4.56%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (0980.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Lianhua Supermarket Holdings Co., Ltd. to open at HK$0.472, and during the day (based on 14 day Average True Range), to move between HK$0.446 and HK$0.494, which gives a possible trading interval of +/-HK$0.0236 (+/-5.02%) up or down from last closing price. If Lianhua Supermarket Holdings Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.03% 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$0.475 (1.06%) than the support at HK$0.450 (4.26%), 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 Lianhua Supermarket Holdings Co., Ltd. stock A Buy?
Lianhua Supermarket Holdings Co., Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Lianhua Supermarket Holdings Co., Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.472 ( 0.355%) | HK$0.470 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0980.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.477 | 1.42% |
| R2 | 0.475 | 1.01% |
| R1 | 0.474 | 0.761% |
| Price | 0.470 | |
| S1 | 0.470 | -0.0518% |
| S2 | 0.469 | -0.303% |
| S3 | 0.467 | -0.709% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.485 | 3.19% |
| R2 | 0.480 | 2.13% |
| R1 | 0.475 | 1.06% |
| Price | 0.470 | |
| S1 | 0.450 | -4.26% |
| S2 | 0.390 | -17.02% |
| S3 | 0.360 | -23.40% |
0980 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2013 | Jun 21, 2013 | Jun 21, 2013 | HK$0.0882 | 1.97% |
| 2 | Sep 13, 2012 | Sep 13, 2012 | Sep 13, 2012 | HK$0.0979 | 1.56% |
| 3 | Jun 21, 2012 | Jun 21, 2012 | Jun 21, 2012 | HK$0.147 | 1.90% |
| 4 | Sep 30, 2011 | Sep 30, 2011 | Sep 30, 2011 | HK$0.0976 | 0.88% |
| 5 | May 26, 2011 | May 26, 2011 | May 26, 2011 | HK$0.120 | 0.644% |
FAQ
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