Baofeng Modern International Holdings Co Stock Forecast
Volatile ride for Baofeng Modern International Holdings Co stock price on Thursday moving between HK$4.70 and HK$5.47
(Updated on Mar 28, 2024)
The Baofeng Modern International Holdings Co stock price gained 6.00% on the last trading day (Thursday, 28th Mar 2024), rising from HK$5.00 to HK$5.30. During the last trading day the stock fluctuated 16.38% from a day low at HK$4.70 to a day high of HK$5.47. The price has fallen in 7 of the last 10 days and is down by -20.18% for this period. Volume fell on the last day by -356 thousand shares and in total, 242 thousand shares were bought and sold for approximately HK$1.28 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 44.22% during the next 3 months and, with a 90% probability hold a price between HK$6.32 and HK$10.32 at the end of this 3-month period.
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1121.HK Signals & Forecast
The Baofeng Modern International Holdings Co 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$5.75. On a fall, the stock will find some support from the long-term average at approximately HK$4.72. 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, March 15, 2024, and so far it has fallen -22.40%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Baofeng Modern International Holdings Co stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$5.00 and HK$4.63. 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, Baofeng Modern International Holdings Co finds support just below today's level at HK$5.00. If this is broken, then the next support from accumulated volume will be at HK$4.63 and HK$4.10.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.770 between high and low, or 16.38%. For the last week the stock has had daily average volatility of 17.74%.
Our recommended stop-loss: HK$5.01 (-5.38%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (1121.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Baofeng Modern International Holdings Company Limited to open at HK$5.16, and during the day (based on 14 day Average True Range), to move between HK$4.78 and HK$5.82, which gives a possible trading interval of +/-HK$0.524 (+/-9.89%) up or down from last closing price. If Baofeng Modern International Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 19.78% 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$5.31 (0.19%) than the support at HK$5.00 (5.66%), 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 Baofeng Modern International Holdings Company 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 Baofeng Modern International Holdings Co stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.194 Buy Candidate Upgraded
Predicted Opening Price for Baofeng Modern International Holdings Company Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$5.16 ( 2.70%) | HK$5.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1121.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.93 | 11.82 % | |
R2 | 5.63 | 6.27 % | ||
R1 | 5.45 | 2.85 % | ||
Current price: | 5.30 | |||
Support | S1 | 4.86 | -8.25 % | |
S2 | 4.68 | -11.68 % | ||
S3 | 4.39 | -17.23 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.33 | 19.43 % | |
R2 | 5.90 | 11.32 % | ||
R1 | 5.31 | 0.189 % | ||
Current price | 5.30 | |||
Support | S1 | 5.00 | -5.66% | |
S2 | 4.63 | -12.64% | ||
S3 | 4.10 | -22.64% |
1121 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 31, 2012 | Sep 19, 2012 | Oct 12, 2012 | HK$0.0250 | 2.19% |
2 | Mar 29, 2012 | May 25, 2012 | Jun 20, 2012 | HK$0.0300 | 2.91% |
3 | Aug 29, 2011 | Sep 19, 2011 | Oct 14, 2011 | HK$0.0200 | 1.80% |
FAQ
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