TCL Electronics Holdings Limited Stock Forecast
Red day on Tuesday for TCL Electronics Holdings Limited
(Updated on Jul 02, 2024)
The TCL Electronics Holdings Limited stock price fell by -4.27% on the last day (Tuesday, 2nd Jul 2024) from HK$6.32 to HK$6.05. During the last trading day the stock fluctuated 8.24% from a day low at HK$5.95 to a day high of HK$6.44. The price has been going up and down for this period, and there has been a -3.04% loss for the last 2 weeks. Volume has increased on the last day by 4 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, 12 million shares were bought and sold for approximately HK$75.51 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$6.05 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 45.67% during the next 3 months and, with a 90% probability hold a price between HK$8.81 and HK$10.16 at the end of this 3-month period.
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1070.HK Signals & Forecast
The TCL Electronics Holdings Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$6.39. On a fall, the stock will find some support from the long-term average at approximately HK$6.01. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, June 21, 2024, and so far it has fallen -10.37%. Further fall is indicated until a new bottom pivot has been found. 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$5.62 and HK$5.10. 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$5.62. If this is broken, then the next support from accumulated volume will be at HK$5.10 and HK$4.96.
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$0.490 between high and low, or 8.24%. For the last week, the stock has had daily average volatility of 5.43%.
Our recommended stop-loss: HK$5.79 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (1070.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect TCL Electronics Holdings Limited to open at HK$6.15, and during the day (based on 14 day Average True Range), to move between HK$5.69 and HK$6.41, which gives a possible trading interval of +/-HK$0.362 (+/-5.99%) 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 11.97% 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$6.24 (3.14%) than the support at HK$5.62 (7.11%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for TCL Electronics Holdings Limited stock to perform well in the short-term.
Current score: 1.249 Buy Candidate Unchanged
Predicted Opening Price for TCL Electronics Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$6.15 ( 1.60%) | HK$6.05 |
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 | |
|---|---|---|
| R3 | 6.64 | 9.70% |
| R2 | 6.45 | 6.60% |
| R1 | 6.33 | 4.69% |
| Price | 6.05 | |
| S1 | 5.96 | -1.50% |
| S2 | 5.84 | -3.41% |
| S3 | 5.66 | -6.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.49 | 7.27% |
| R2 | 6.32 | 4.46% |
| R1 | 6.24 | 3.14% |
| Price | 6.05 | |
| S1 | 5.62 | -7.11% |
| S2 | 5.10 | -15.70% |
| S3 | 4.96 | -18.02% |
1070 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2024 | Jul 05, 2024 | Jul 31, 2024 | HK$0.160 | 2.64% |
| 2 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | HK$0.127 | 3.39% |
| 3 | Jul 17, 2023 | Jul 17, 2023 | Jul 17, 2023 | HK$0.127 | 3.20% |
| 4 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.167 | 4.48% |
| 5 | May 27, 2021 | May 27, 2021 | May 27, 2021 | HK$0.115 | 2.17% |
FAQ
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