Huarong International Financial Holdings Stock Forecast
Huarong International Financial Holdings stock downgraded to Hold/Accumulate
(Updated on May 24, 2024)
No changes to the price of Huarong International Financial Holdings stock on the last trading day (Friday, 24th May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.0590 to a day high of HK$0.0590. The price has been going up and down for this period, and there has been a 1.72% gain for the last 2 weeks.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$0.0590, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.0719 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0993.HK Signals & Forecast
The Huarong International Financial Holdings 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$0.0583 and HK$0.0541. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 23, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Huarong International Financial Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0560 and HK$0.0550. 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, Huarong International Financial Holdings finds support just below today's level at HK$0.0560. If this is broken, then the next support from accumulated volume will be at HK$0.0550 and HK$0.0540.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.05%
Our recommended stop-loss: HK$0.0567 (-3.84%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (0993.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Huarong International Financial Holdings Limited to open at HK$0.0590, and during the day (based on 14 day Average True Range), to move between HK$0.0563 and HK$0.0617, which gives a possible trading interval of +/-HK$0.0027 (+/-4.59%) up or down from last closing price. If Huarong International Financial Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.19% 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$0.0600 (1.69%) than the support at HK$0.0560 (5.08%), 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 Huarong International Financial Holdings Limited stock A Buy?
Huarong International Financial Holdings holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Huarong International Financial Holdings Limited of Monday, May 27, 2024
Fair opening price May 27, 2024 | Current price |
---|---|
HK$0.0590 ( 0%) | HK$0.0590 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0993.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0590 | . | |
R2 | 0.0590 | . | ||
R1 | 0.0590 | . | ||
Current price: | 0.0590 | |||
Support | S1 | 0.0590 | . | |
S2 | 0.0590 | . | ||
S3 | 0.0590 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0.0630 | 6.78 % | ||
R1 | 0.0600 | 1.69 % | ||
Current price | 0.0590 | |||
Support | S1 | 0.0560 | -5.08% | |
S2 | 0.0550 | -6.78% | ||
S3 | 0.0540 | -8.47% |
0993 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 29, 2018 | May 29, 2018 | May 29, 2018 | HK$0.0170 | 0.98% |
2 | Aug 20, 2014 | Aug 20, 2014 | Aug 20, 2014 | HK$0.148 | 3.33% |
3 | Feb 14, 2008 | Feb 14, 2008 | Feb 14, 2008 | HK$0.278 | 1.45% |
4 | Sep 18, 2007 | Sep 18, 2007 | Sep 18, 2007 | HK$0.333 | 1.30% |
5 | Sep 22, 2006 | Sep 22, 2006 | Sep 22, 2006 | HK$0.333 | 3.00% |
FAQ
Click here for our free guide on how to buy Huarong International Financial Holdings Limited Stock.