Alibaba Pictures Group Limited Stock Forecast
Alibaba Pictures Group Limited stock upgraded to Buy Candidate.
(Updated on Apr 17, 2024)
The Alibaba Pictures Group Limited stock price gained 1.19% on the last trading day (Wednesday, 17th Apr 2024), rising from HK$0.420 to HK$0.425. During the last trading day the stock fluctuated 2.38% from a day low at HK$0.420 to a day high of HK$0.430. The price has fallen in 5 of the last 10 days and is down by -7.61% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 35 million shares were bought and sold for approximately HK$14.66 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.421 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.35% during the next 3 months and, with a 90% probability hold a price between HK$0.460 and HK$0.541 at the end of this 3-month period.
1060.HK Signals & Forecast
The Alibaba Pictures Group 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$0.442 and HK$0.449. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.19%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Alibaba Pictures Group Limited stock
Alibaba Pictures Group Limited finds support from accumulated volume at HK$0.420 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.0100 between high and low, or 2.38%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: HK$0.400 (-5.91%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (1060.HK) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Alibaba Pictures Group Limited to open at HK$0.425, and during the day (based on 14 day Average True Range), to move between HK$0.409 and HK$0.441, which gives a possible trading interval of +/-HK$0.0161 (+/-3.79%) up or down from last closing price. If Alibaba Pictures Group Limited takes out the full calculated possible swing range there will be an estimated 7.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.420 (1.18%) than the resistance at HK$0.450 (5.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alibaba Pictures Group Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.146 Buy Candidate Upgraded
Predicted Opening Price for Alibaba Pictures Group Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| HK$0.425 ( 0%) | HK$0.425 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1060.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.435 | 2.35 % | |
| R2 | 0.431 | 1.45 % | ||
| R1 | 0.429 | 0.90 % | ||
| Current price: | 0.425 | |||
| Support | S1 | 0.421 | -0.90 % | |
| S2 | 0.419 | -1.45 % | ||
| S3 | 0.415 | -2.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.460 | 8.24 % | |
| R2 | 0.455 | 7.06 % | ||
| R1 | 0.450 | 5.88 % | ||
| Current price | 0.425 | |||
| Support | S1 | 0.420 | -1.18% | |
| S2 | 0.415 | -2.35% | ||
| S3 | 0.400 | -5.88% |
1060 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2004 | May 11, 2004 | Jun 24, 2004 | HK$0.0400 | 8.33% |
| 2 | Mar 20, 2003 | May 02, 2003 | Jun 27, 2003 | HK$0.0300 | 6.12% |
FAQ
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