Universe Entertainment and Culture Group Stock Forecast
Universe Entertainment and Culture Group stock price took a fall of -9.38% on Friday
(Updated on Jun 28, 2024)
The Universe Entertainment and Culture Group stock price fell by -9.38% on the last day (Friday, 28th Jun 2024) from HK$0.480 to HK$0.435. During the last trading day the stock fluctuated 0% from a day low at HK$0.435 to a day high of HK$0.435. The price has been going up and down for this period, and there has been a -7.45% loss for the last 2 weeks. Volume has increased on the last day by 90 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, 90 thousand shares were bought and sold for approximately HK$39.15 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.406 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.58% during the next 3 months and, with a 90% probability hold a price between HK$0.379 and HK$0.535 at the end of this 3-month period.
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1046.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Universe Entertainment and Culture Group 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$0.454 and HK$0.498. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -27.50%. 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). Universe Entertainment and Culture Group 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Universe Entertainment and Culture Group 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 3.46%.
Our recommended stop-loss: HK$0.412 (-5.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (1046.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Universe Entertainment and Culture Group Company Limited to open at HK$0.435, and during the day (based on 14 day Average True Range), to move between HK$0.417 and HK$0.453, which gives a possible trading interval of +/-HK$0.0183 (+/-4.21%) up or down from last closing price. If Universe Entertainment and Culture Group Company Limited takes out the full calculated possible swing range there will be an estimated 8.42% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.500, some HK$0.0650 (14.94%) from the current price of HK$0.435, our system finds the risk reward not very attractive.
Is Universe Entertainment and Culture Group Company Limited stock A Buy?
Universe Entertainment and Culture Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Universe Entertainment and Culture Group Company Limited of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
HK$0.435 ( 0%) | HK$0.435 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1046.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.435 | - |
R2 | 0.435 | - |
R1 | 0.435 | - |
Price | 0.435 | |
S1 | 0.435 | - |
S2 | 0.435 | - |
S3 | 0.435 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.530 | 21.84% |
R2 | 0.520 | 19.54% |
R1 | 0.500 | 14.94% |
Price | 0.435 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
1046 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 18, 2019 | Apr 18, 2019 | Apr 18, 2019 | HK$0.150 | 30.00% |
2 | Oct 09, 2018 | Oct 09, 2018 | Oct 09, 2018 | HK$0.300 | 60.00% |
3 | Sep 12, 2018 | Sep 12, 2018 | Sep 12, 2018 | HK$0.300 | 40.54% |
4 | Apr 07, 2011 | Apr 07, 2011 | Apr 07, 2011 | HK$0.683 | 7.30% |
5 | Nov 17, 2006 | Nov 17, 2006 | Nov 17, 2006 | HK$0.496 | 11.43% |
FAQ
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