BYD Company Limited Stock Forecast
Green day on Thursday for BYD Company Limited
(Updated on Jul 04, 2024)
The BYD Company Limited stock price gained 1.91% on the last trading day (Thursday, 4th Jul 2024), rising from HK$230.20 to HK$234.60. During the last trading day the stock fluctuated 2.33% from a day low at HK$232.20 to a day high of HK$237.60. The price has been going up and down for this period, and there has been a -1.43% loss for the last 2 weeks. Volume fell on the last day by -506 thousand shares and in total, 4 million shares were bought and sold for approximately HK$919.70 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 in the middle of a wide and strong 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 15.71% during the next 3 months and, with a 90% probability hold a price between HK$254.95 and HK$281.05 at the end of this 3-month period.
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1211.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -2.09%. 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). The BYD Company 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$233.26 and HK$226.49. A breakdown below any of these levels will issue sell signals. 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 BYD Company Limited stock
BYD Company Limited finds support from accumulated volume at HK$233.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$5.40 (2.33%) between high and low. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: HK$225.99 (-3.67%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (1211.HK) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect BYD Company Limited to open at HK$234.80, and during the day (based on 14 day Average True Range), to move between HK$227.67 and HK$241.53, which gives a possible trading interval of +/-HK$6.93 (+/-2.96%) up or down from last closing price. If BYD Company Limited takes out the full calculated possible swing range there will be an estimated 5.91% 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$233.40 (0.51%) than the resistance at HK$237.60 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BYD Company 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 BYD Company Limited stock to perform well in the short-term.
Current score: 2.372 Buy Candidate Unchanged
Predicted Opening Price for BYD Company Limited of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| HK$234.80 ( 0.0853%) | HK$234.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1211.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 240.20 | 2.39% |
| R2 | 238.14 | 1.51% |
| R1 | 236.86 | 0.96% |
| Price | 234.60 | |
| S1 | 232.74 | -0.794% |
| S2 | 231.46 | -1.34% |
| S3 | 229.40 | -2.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 239.60 | 2.13% |
| R2 | 238.00 | 1.45% |
| R1 | 237.60 | 1.28% |
| Price | 234.60 | |
| S1 | 233.40 | -0.512% |
| S2 | 232.80 | -0.767% |
| S3 | 217.60 | -7.25% |
1211 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Aug 06, 2024 | HK$3.34 | 1.43% |
| 2 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | HK$1.26 | 0.489% |
| 3 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | HK$0.123 | 0.0401% |
| 4 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | HK$0.180 | 0.0848% |
| 5 | Jun 26, 2020 | Jun 26, 2020 | Jun 26, 2020 | HK$0.0656 | 0.110% |
FAQ
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