TCL Electronics Holdings Limited Stock Forecast
TCL Electronics Holdings Limited stock downgraded from Buy Candidate to Strong Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The TCL Electronics Holdings Limited stock price fell by -3.08% on the last day (Thursday, 28th Mar 2024) from HK$2.92 to HK$2.83. During the last trading day the stock fluctuated 6.76% from a day low at HK$2.81 to a day high of HK$3.00. The price has fallen in 6 of the last 10 days and is down by -6.29% for this period. Volume has increased on the last day by 3 million 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, 4 million shares were bought and sold for approximately HK$10.70 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$2.74 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 30.19% during the next 3 months and, with a 90% probability hold a price between HK$3.56 and HK$4.21 at the end of this 3-month period.
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1070.HK Signals & Forecast
There are few to no technical positive signals at the moment. The TCL Electronics Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$2.93 and HK$2.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -8.71%. 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.
Support, Risk & Stop-loss for TCL Electronics Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$2.60 and HK$2.50. 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, TCL Electronics Holdings Limited finds support just below today's level at HK$2.60. If this is broken, then the next support from accumulated volume will be at HK$2.50 and HK$2.45.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.190 (6.76%) between high and low. For the last week, the stock has had daily average volatility of 3.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1070.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect TCL Electronics Holdings Limited to open at HK$2.88, and during the day (based on 14 day Average True Range), to move between HK$2.71 and HK$2.95, which gives a possible trading interval of +/-HK$0.121 (+/-4.26%) up or down from last closing price. If TCL Electronics Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.52% 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$2.87 (1.41%) than the support at HK$2.60 (8.13%), 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 TCL Electronics Holdings Limited stock A Buy?
The TCL Electronics Holdings Limited stock holds several negative signals and despite the positive trend, we believe TCL Electronics Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Strong Sell candidate.
Current score: -5.161 Strong Sell Candidate Downgraded
Predicted Opening Price for TCL Electronics Holdings Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$2.88 ( 1.77%) | HK$2.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1070.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.07 | 8.48 % | |
R2 | 3.00 | 5.92 % | ||
R1 | 2.95 | 4.33 % | ||
Current price: | 2.83 | |||
Support | S1 | 2.81 | -0.798 % | |
S2 | 2.76 | -2.38 % | ||
S3 | 2.69 | -4.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.93 | 3.53 % | |
R2 | 2.88 | 1.77 % | ||
R1 | 2.87 | 1.41 % | ||
Current price | 2.83 | |||
Support | S1 | 2.60 | -8.13% | |
S2 | 2.50 | -11.66% | ||
S3 | 2.45 | -13.43% |
1070 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | HK$0.127 | 3.39% |
2 | Jul 17, 2023 | Jul 17, 2023 | Jul 17, 2023 | HK$0.127 | 3.20% |
3 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.167 | 4.48% |
4 | May 27, 2021 | May 27, 2021 | May 27, 2021 | HK$0.115 | 2.17% |
5 | Oct 06, 2020 | Oct 06, 2020 | Oct 06, 2020 | HK$0.0970 | 1.62% |
FAQ
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