China Healthcare Enterprise Group Ltd Stock Forecast
Green day on Friday for China Healthcare Enterprise Group Ltd stock after gaining 1.05%
(Updated on May 03, 2024)
The China Healthcare Enterprise Group Ltd stock price gained 1.05% on the last trading day (Friday, 3rd May 2024), rising from HK$1.91 to HK$1.93. During the last trading day the stock fluctuated 3.76% from a day low at HK$1.86 to a day high of HK$1.93. The price has risen in 5 of the last 10 days and is up by 5.46% over the past 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 976 thousand shares were bought and sold for approximately HK$1.88 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$1.97 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.45% during the next 3 months and, with a 90% probability hold a price between HK$1.69 and HK$1.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1143.HK Signals & Forecast
The China Healthcare Enterprise Group Ltd 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$1.88 and HK$1.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.46%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 8.54% to HK$2.09 within 29 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for China Healthcare Enterprise Group Ltd stock
China Healthcare Enterprise Group Ltd finds support from accumulated volume at HK$1.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0700 between high and low, or 3.76%. For the last week the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: HK$1.85 (-4.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (1143.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Healthcare Enterprise Group Limited to open at HK$1.91, and during the day (based on 14 day Average True Range), to move between HK$1.87 and HK$1.99, which gives a possible trading interval of +/-HK$0.0566 (+/-2.93%) up or down from last closing price. If China Healthcare Enterprise Group Limited takes out the full calculated possible swing range there will be an estimated 5.86% 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$1.92 (0.52%) than the resistance at HK$1.95 (1.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Healthcare Enterprise Group Limited stock A Buy?
China Healthcare Enterprise Group Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.623 Hold/Accumulate Unchanged
Predicted Opening Price for China Healthcare Enterprise Group Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$1.91 ( 1.21%) | HK$1.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1143.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.98 | 2.42 % | |
| R2 | 1.95 | 1.03 % | ||
| R1 | 1.93 | 0.177 % | ||
| Current price: | 1.93 | |||
| Support | S1 | 1.88 | -2.59 % | |
| S2 | 1.86 | -3.45 % | ||
| S3 | 1.84 | -4.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.04 | 5.70 % | |
| R2 | 1.96 | 1.55 % | ||
| R1 | 1.95 | 1.04 % | ||
| Current price | 1.93 | |||
| Support | S1 | 1.92 | -0.518% | |
| S2 | 1.90 | -1.55% | ||
| S3 | 1.85 | -4.15% |
1143 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2015 | Jun 04, 2015 | Jun 04, 2015 | HK$0.293 | 0.475% |
| 2 | Sep 16, 2014 | Sep 16, 2014 | Sep 16, 2014 | HK$0.293 | 2.08% |
| 3 | Jun 04, 2014 | Jun 04, 2014 | Jun 04, 2014 | HK$0.488 | 3.38% |
| 4 | Sep 23, 2013 | Sep 23, 2013 | Sep 23, 2013 | HK$0.293 | 4.00% |
| 5 | Jun 04, 2013 | Jun 04, 2013 | Jun 04, 2013 | HK$0.390 | 4.82% |
FAQ
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