Midland Holdings Limited Stock Forecast
A very strong day for Midland Holdings Limited stock price on Friday
(Updated on May 17, 2024)
The Midland Holdings Limited stock price gained 5.49% on the last trading day (Friday, 17th May 2024), rising from HK$0.91 to HK$0.96. During the last trading day the stock fluctuated 7.61% from a day low at HK$0.92 to a day high of HK$0.99. The price has risen in 5 of the last 10 days and is up by 7.87% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately HK$3.16 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Midland Holdings Limited stock with a 90% probability to be traded between HK$0.648 and HK$1.20 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.
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1200.HK Signals & Forecast
The Midland Holdings 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$0.91 and HK$0.89. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, March 04, 2024, and so far it has fallen -17.95%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Midland Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.89 and HK$0.88. 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, Midland Holdings Limited finds support just below today's level at HK$0.89. If this is broken, then the next support from accumulated volume will be at HK$0.88 and HK$0.87.
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$0.0700 between high and low, or 7.61%. For the last week, the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: HK$0.91 (-5.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (1200.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Midland Holdings Limited to open at HK$0.96, and during the day (based on 14 day Average True Range), to move between HK$0.91 and HK$1.01, which gives a possible trading interval of +/-HK$0.0523 (+/-5.45%) up or down from last closing price. If Midland Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.91% 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$0.89 (7.29%) than the resistance at HK$1.12 (16.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Midland Holdings Limited stock A Buy?
Midland Holdings Limited holds several positive signals and is considered to be a good choice at current levels. We expect the Midland Holdings Limited stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.419 Strong Buy Candidate Upgraded
Predicted Opening Price for Midland Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.96 ( 0.347%) | HK$0.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1200.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.03 | 6.94 % | |
| R2 | 1.00 | 4.16 % | ||
| R1 | 0.98 | 2.44 % | ||
| Current price: | 0.96 | |||
| Support | S1 | 0.93 | -3.13 % | |
| S2 | 0.91 | -4.85 % | ||
| S3 | 0.89 | -7.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.17 | 21.88 % | |
| R2 | 1.14 | 18.75 % | ||
| R1 | 1.12 | 16.67 % | ||
| Current price | 0.96 | |||
| Support | S1 | 0.89 | -7.29% | |
| S2 | 0.88 | -8.33% | ||
| S3 | 0.87 | -9.38% |
1200 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 29, 2018 | Sep 11, 2018 | Sep 21, 2018 | HK$0.0320 | 1.62% |
| 2 | Mar 28, 2018 | Jun 05, 2018 | Jun 14, 2018 | HK$0.0500 | 2.33% |
| 3 | Mar 15, 2013 | May 23, 2013 | May 31, 2013 | HK$0.100 | 3.31% |
| 4 | Aug 24, 2012 | Sep 07, 2012 | Sep 20, 2012 | HK$0.143 | 3.43% |
| 5 | Mar 16, 2012 | May 30, 2012 | Jun 08, 2012 | HK$0.0834 | 2.45% |
FAQ
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