Hong Kong Television Network Limited Stock Forecast
Green day on Friday for Hong Kong Television Network Limited stock after gaining 0.578%
(Updated on Jun 14, 2024)
The Hong Kong Television Network Limited stock price gained 0.578% on the last trading day (Friday, 14th Jun 2024), rising from HK$1.73 to HK$1.74. During the last trading day the stock fluctuated 3.47% from a day low at HK$1.73 to a day high of HK$1.79. The price has been going up and down for this period, and there has been a -0.57% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$3.76 million.
The stock lies in the middle of a wide and weak 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 5.22% during the next 3 months and, with a 90% probability hold a price between HK$1.64 and HK$2.04 at the end of this 3-month period.
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1137.HK Signals & Forecast
The Hong Kong Television Network 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$1.72 and HK$1.71. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, May 22, 2024, and so far it has fallen -8.90%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hong Kong Television Network Limited stock
Hong Kong Television Network Limited finds support from accumulated volume at HK$1.71 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$0.0600 between high and low, or 3.47%. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: HK$1.63 (-6.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (1137.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Hong Kong Television Network Limited to open at HK$1.75, and during the day (based on 14 day Average True Range), to move between HK$1.68 and HK$1.80, which gives a possible trading interval of +/-HK$0.0600 (+/-3.45%) up or down from last closing price. If Hong Kong Television Network Limited takes out the full calculated possible swing range there will be an estimated 6.90% 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$1.71 (1.72%) than the resistance at HK$1.83 (5.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Hong Kong Television Network Limited will release earnings BMO on Tuesday, June 18, 2024. We will update the financials statements for Hong Kong Television Network Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.40% in the first trading day after earnings release.
Is Hong Kong Television Network 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 Hong Kong Television Network Limited stock to perform well in the short-term.
Current score: 2.548 Buy Candidate Unchanged
Predicted Opening Price for Hong Kong Television Network Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$1.75 ( 0.766%) | HK$1.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1137.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.81 | 4.21% |
| R2 | 1.79 | 2.90% |
| R1 | 1.78 | 2.08% |
| Price | 1.74 | |
| S1 | 1.73 | -0.551% |
| S2 | 1.72 | -1.36% |
| S3 | 1.69 | -2.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.91 | 9.77% |
| R2 | 1.89 | 8.62% |
| R1 | 1.83 | 5.17% |
| Price | 1.74 | |
| S1 | 1.71 | -1.72% |
| S2 | 1.55 | -10.92% |
| S3 | 1.53 | -12.07% |
1137 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | HK$0.0800 | 1.45% |
| 2 | Sep 13, 2021 | Sep 13, 2021 | Sep 13, 2021 | HK$0.0800 | 0.749% |
| 3 | Nov 21, 2012 | Jan 03, 2013 | Jan 24, 2013 | HK$0.150 | 6.41% |
| 4 | Apr 30, 2012 | Jun 14, 2012 | Jun 29, 2012 | HK$2.50 | 171.23% |
| 5 | Apr 20, 2012 | May 14, 2012 | May 31, 2012 | HK$0.150 | 3.50% |
FAQ
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