Hong Kong Television Network Limited Stock Forecast
Hong Kong Television Network Limited stock upgraded to Buy Candidate.
(Updated on Jun 20, 2024)
The Hong Kong Television Network Limited stock price fell by -1.69% on the last day (Thursday, 20th Jun 2024) from HK$1.77 to HK$1.74. During the last trading day the stock fluctuated 1.72% from a day low at HK$1.74 to a day high of HK$1.77. The price has risen in 4 of the last 10 days. Volume has increased on the last day by 310 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately HK$3.68 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 9.93% during the next 3 months and, with a 90% probability hold a price between HK$1.78 and HK$2.17 at the end of this 3-month period.
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1137.HK Signals & Forecast
There are mixed signals in the stock today. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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$1.74 and HK$1.73. A breakdown below any of these levels will issue sell signals.
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$0.0300 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: HK$1.65 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (1137.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st 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$1.69 and HK$1.79, which gives a possible trading interval of +/-HK$0.0540 (+/-3.10%) 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 6.20% 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..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.269 Buy Candidate Upgraded
Predicted Opening Price for Hong Kong Television Network Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$1.75 ( 0.575%) | 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 | 1.78 | 2.30% |
| R2 | 1.77 | 1.64% |
| R1 | 1.76 | 1.23% |
| Price | 1.74 | |
| S1 | 1.74 | -0.0839% |
| S2 | 1.73 | -0.491% |
| S3 | 1.72 | -1.15% |
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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