COSCO SHIPPING Ports Limited Stock Forecast
Green day on Monday for COSCO SHIPPING Ports Limited stock after gaining 3.30%
(Updated on May 06, 2024)
The COSCO SHIPPING Ports Limited stock price gained 3.30% on the last trading day (Monday, 6th May 2024), rising from HK$4.85 to HK$5.01. During the last trading day the stock fluctuated 4.34% from a day low at HK$4.84 to a day high of HK$5.05. The price has risen in 8 of the last 10 days and is up by 10.6% over the past 2 weeks. Volume fell on the last day by -525 thousand shares and in total, 5 million shares were bought and sold for approximately HK$23.18 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.
Given the current horizontal trend, you can expect COSCO SHIPPING Ports Limited stock with a 90% probability to be traded between HK$4.05 and HK$4.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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1199.HK Signals & Forecast
Mostly positive signals in the chart today. The COSCO SHIPPING Ports 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$4.77 and HK$4.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 22.79%. 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.
Support, Risk & Stop-loss for COSCO SHIPPING Ports Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.74 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, COSCO SHIPPING Ports Limited finds support just below today's level at HK$4.74. If this is broken, then the next support from accumulated volume will be at HK$4.63 and HK$4.37.
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$0.210 between high and low, or 4.34%. For the last week, the stock has had daily average volatility of 5.10%.
Our recommended stop-loss: HK$4.86 (-3.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (1199.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect COSCO SHIPPING Ports Limited to open at HK$4.97, and during the day (based on 14 day Average True Range), to move between HK$4.83 and HK$5.19, which gives a possible trading interval of +/-HK$0.181 (+/-3.61%) up or down from last closing price. If COSCO SHIPPING Ports Limited takes out the full calculated possible swing range there will be an estimated 7.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$4.74, some HK$0.270 (5.39%) from the current price of HK$5.01, our system finds the risk reward attractive.
Is COSCO SHIPPING Ports Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for COSCO SHIPPING Ports Limited stock to perform well in the short-term period.
Current score: 2.262 Buy Candidate Unchanged
Predicted Opening Price for COSCO SHIPPING Ports Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$4.97 ( 0.86%) | HK$5.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1199.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.18 | 3.33 % | |
| R2 | 5.10 | 1.73 % | ||
| R1 | 5.05 | 0.736 % | ||
| Current price: | 5.01 | |||
| Support | S1 | 4.89 | -2.47 % | |
| S2 | 4.84 | -3.46 % | ||
| S3 | 4.76 | -5.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.01 | |||
| Support | S1 | 4.74 | -5.39% | |
| S2 | 4.63 | -7.58% | ||
| S3 | 4.37 | -12.77% |
1199 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 15, 2024 | Apr 15, 2024 | Jun 19, 2024 | HK$0.155 | 3.10% |
| 2 | Apr 14, 2023 | Apr 14, 2023 | Apr 14, 2023 | HK$0.116 | 2.40% |
| 3 | Sep 13, 2022 | Sep 13, 2022 | Sep 13, 2022 | HK$0.167 | 3.27% |
| 4 | Apr 13, 2022 | Apr 13, 2022 | Apr 13, 2022 | HK$0.170 | 2.87% |
| 5 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | HK$0.164 | 2.65% |
FAQ
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