Road King Infrastructure Limited Stock Forecast
On Thursday, Road King Infrastructure Limited stock price gained an impressive 5.83%
(Updated on May 02, 2024)
The Road King Infrastructure Limited stock price gained 5.83% on the last trading day (Thursday, 2nd May 2024), rising from HK$1.20 to HK$1.27. During the last trading day the stock fluctuated 4.10% from a day low at HK$1.22 to a day high of HK$1.27. The price has risen in 7 of the last 10 days and is up by 23.3% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 365 thousand more shares were traded than the day before. In total, 573 thousand shares were bought and sold for approximately HK$727.71 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$1.20, a level that may pose a second chance to hit a runner. According to fan-theory HK$1.41 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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1098.HK Signals & Forecast
Mostly positive signals in the chart today. The Road King Infrastructure Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$1.13 and HK$1.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 24.51%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Road King Infrastructure Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Road King Infrastructure Limited stock
Road King Infrastructure Limited finds support from accumulated volume at HK$1.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0500 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 7.25%.
Our recommended stop-loss: HK$1.22 (-3.76%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (1098.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Road King Infrastructure Limited to open at HK$1.25, and during the day (based on 14 day Average True Range), to move between HK$1.21 and HK$1.33, which gives a possible trading interval of +/-HK$0.0618 (+/-4.87%) up or down from last closing price. If Road King Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 9.74% 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$1.21 (4.72%) than the resistance at HK$1.35 (6.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Road King Infrastructure Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.127 Buy Candidate Upgraded
Predicted Opening Price for Road King Infrastructure Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$1.25 ( 1.31%) | HK$1.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1098.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.30 | 2.62 % | |
| R2 | 1.28 | 1.12 % | ||
| R1 | 1.27 | 0.192 % | ||
| Current price: | 1.27 | |||
| Support | S1 | 1.23 | -2.82 % | |
| S2 | 1.22 | -3.75 % | ||
| S3 | 1.20 | -5.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.43 | 12.60 % | |
| R2 | 1.38 | 8.66 % | ||
| R1 | 1.35 | 6.30 % | ||
| Current price | 1.27 | |||
| Support | S1 | 1.21 | -4.72% | |
| S2 | 1.10 | -13.39% | ||
| S3 | 1.03 | -18.90% |
1098 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 24, 2022 | May 24, 2022 | May 24, 2022 | HK$0.200 | 3.23% |
| 2 | Sep 01, 2021 | Sep 01, 2021 | Sep 01, 2021 | HK$0.150 | 1.71% |
| 3 | May 28, 2021 | May 28, 2021 | May 28, 2021 | HK$0.550 | 5.36% |
| 4 | Sep 01, 2020 | Sep 01, 2020 | Sep 01, 2020 | HK$0.200 | 1.95% |
| 5 | Mar 23, 2020 | May 26, 2020 | Jun 30, 2020 | HK$0.88 | 8.40% |
FAQ
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