Kingworld Medicines Group Limited Stock Forecast
Stronger technical forecast for Kingworld Medicines Group Limited stock price after Monday trading.
(Updated on Jun 17, 2024)
The Kingworld Medicines Group Limited stock price gained 1.75% on the last trading day (Monday, 17th Jun 2024), rising from HK$0.570 to HK$0.580. During the last trading day the stock fluctuated 3.57% from a day low at HK$0.560 to a day high of HK$0.580. The price has risen in 6 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 112 thousand more shares were traded than the day before. In total, 984 thousand shares were bought and sold for approximately HK$570.72 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.84% during the next 3 months and, with a 90% probability hold a price between HK$0.619 and HK$0.741 at the end of this 3-month period.
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1110.HK Signals & Forecast
The Kingworld Medicines Group 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$0.571 and HK$0.575. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 5.45%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kingworld Medicines Group Limited stock
Kingworld Medicines Group Limited finds support from accumulated volume at HK$0.570 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$0.0200 between high and low, or 3.57%. For the last week, the stock has had daily average volatility of 5.31%.
Our recommended stop-loss: HK$0.544 (-6.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (1110.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Kingworld Medicines Group Limited to open at HK$0.573, and during the day (based on 14 day Average True Range), to move between HK$0.549 and HK$0.611, which gives a possible trading interval of +/-HK$0.0308 (+/-5.31%) 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 10.63% 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$0.590 (1.72%) than the support at HK$0.570 (1.72%), 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 Kingworld Medicines Group 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 Kingworld Medicines Group Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.966 Buy Candidate Upgraded
Predicted Opening Price for Kingworld Medicines Group Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$0.573 ( 1.15%) | HK$0.580 |
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 | |
|---|---|---|
| R3 | 0.593 | 2.30% |
| R2 | 0.586 | 0.98% |
| R1 | 0.581 | 0.168% |
| Price | 0.580 | |
| S1 | 0.566 | -2.47% |
| S2 | 0.561 | -3.28% |
| S3 | 0.553 | -4.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.630 | 8.62% |
| R2 | 0.600 | 3.45% |
| R1 | 0.590 | 1.72% |
| Price | 0.580 | |
| S1 | 0.570 | -1.72% |
| S2 | 0.560 | -3.45% |
| S3 | 0.530 | -8.62% |
1110 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 30, 2024 | HK$0.0338 | 5.83% |
| 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% |
FAQ
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