CK Infrastructure Holdings Limited Stock Forecast
Red day on Thursday for CK Infrastructure Holdings Limited stock after losing 1.73%
(Updated on Apr 18, 2024)
The CK Infrastructure Holdings Limited stock price fell by -1.73% on the last day (Thursday, 18th Apr 2024) from HK$43.30 to HK$42.55. During the last trading day the stock fluctuated 2.24% from a day low at HK$42.40 to a day high of HK$43.35. The price has fallen in 6 of the last 10 days and is down by -7.6% for this period. Volume has increased on the last day by 566 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, 2 million shares were bought and sold for approximately HK$91.41 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately HK$44.03 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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1038.HK Signals & Forecast
There are few to no technical positive signals at the moment. The CK Infrastructure Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$44.11 and HK$45.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -10.23%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, February 28, 2024 with a target of HK$43.12. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for CK Infrastructure Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.95 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 3.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1038.HK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect CK Infrastructure Holdings Limited to open at HK$42.77, and during the day (based on 14 day Average True Range), to move between HK$41.45 and HK$43.65, which gives a possible trading interval of +/-HK$1.10 (+/-2.60%) up or down from last closing price. If CK Infrastructure Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$46.00, some HK$3.45 (8.11%) from the current price of HK$42.55, our system finds the risk reward not very attractive.
Is CK Infrastructure Holdings Limited stock A Buy?
CK Infrastructure Holdings Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.485 Sell Candidate Unchanged
Predicted Opening Price for CK Infrastructure Holdings Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| HK$42.77 ( 0.509%) | HK$42.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1038.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.72 | 2.74 % | |
| R2 | 43.35 | 1.89 % | ||
| R1 | 43.13 | 1.36 % | ||
| Current price: | 42.55 | |||
| Support | S1 | 42.40 | -0.344 % | |
| S2 | 42.18 | -0.87 % | ||
| S3 | 41.82 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.80 | 9.99 % | |
| R2 | 46.20 | 8.58 % | ||
| R1 | 46.00 | 8.11 % | ||
| Current price | 42.55 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
1038 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2024 | May 27, 2024 | Jun 12, 2024 | HK$1.85 | 4.34% |
| 2 | Sep 04, 2023 | Sep 04, 2023 | Sep 04, 2023 | HK$0.710 | 1.82% |
| 3 | May 22, 2023 | May 22, 2023 | May 22, 2023 | HK$1.83 | 4.31% |
| 4 | Sep 02, 2022 | Sep 02, 2022 | Sep 02, 2022 | HK$0.700 | 1.54% |
| 5 | May 20, 2022 | May 20, 2022 | May 20, 2022 | HK$1.81 | 3.44% |
FAQ
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