Kingworld Medicines Group Limited Stock Forecast
On Friday, Kingworld Medicines Group Limited stock price gained an impressive 8.77%
(Updated on May 17, 2024)
The Kingworld Medicines Group Limited stock price gained 8.77% on the last trading day (Friday, 17th May 2024), rising from HK$0.570 to HK$0.620. During the last trading day the stock fluctuated 6.90% from a day low at HK$0.580 to a day high of HK$0.620. The price has risen in 5 of the last 10 days and is up by 16.98% 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, 532 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately HK$719.20 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$0.600, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.715 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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1110.HK Signals & Forecast
Mostly positive signals in the chart today. The Kingworld Medicines Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.574 and HK$0.533. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 24.00%. 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). Kingworld Medicines Group 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 Kingworld Medicines Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.560 and HK$0.540. 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, Kingworld Medicines Group Limited finds support just below today's level at HK$0.560. If this is broken, then the next support from accumulated volume will be at HK$0.540 and HK$0.530.
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$0.0400 between high and low, or 6.90%. For the last week, the stock has had daily average volatility of 6.07%.
Our recommended stop-loss: HK$0.597 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (1110.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Kingworld Medicines Group Limited to open at HK$0.607, and during the day (based on 14 day Average True Range), to move between HK$0.591 and HK$0.649, which gives a possible trading interval of +/-HK$0.0293 (+/-4.73%) up or down from last closing price. If Kingworld Medicines Group Limited takes out the full calculated possible swing range there will be an estimated 9.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.560, some HK$0.0600 (9.68%) from the current price of HK$0.620, our system finds the risk reward attractive.
Is Kingworld Medicines Group 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: 2.151 Buy Candidate Upgraded
Predicted Opening Price for Kingworld Medicines Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.607 ( 2.15%) | HK$0.620 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1110.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.647 | 4.30 % | |
| R2 | 0.631 | 1.84 % | ||
| R1 | 0.622 | 0.314 % | ||
| Current price: | 0.620 | |||
| Support | S1 | 0.591 | -4.62 % | |
| S2 | 0.582 | -6.14 % | ||
| S3 | 0.567 | -8.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.620 | |||
| Support | S1 | 0.560 | -9.68% | |
| S2 | 0.540 | -12.90% | ||
| S3 | 0.530 | -14.52% |
1110 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 30, 2024 | HK$0.0338 | 5.73% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | HK$0.0247 | 3.09% |
| 3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | HK$0.0239 | 5.31% |
| 4 | May 30, 2022 | May 30, 2022 | May 30, 2022 | HK$0.0239 | 5.09% |
| 5 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$0.0065 | 0.83% |
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