Powerlong Real Estate Holdings Limited Stock Forecast
Volatile ride for Powerlong Real Estate Holdings Limited stock price on Friday moving between HK$0.550 and HK$0.610
(Updated on Apr 26, 2024)
The Powerlong Real Estate Holdings Limited stock price gained 10.91% on the last trading day (Friday, 26th Apr 2024), rising from HK$0.550 to HK$0.610. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.91% from a day low at HK$0.550 to a day high of HK$0.610. The price has risen in 7 of the last 10 days and is up by 23.23% 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, 9 million more shares were traded than the day before. In total, 20 million shares were bought and sold for approximately HK$12.47 million.
Given the current short-term trend, the stock is expected to fall -19.77% during the next 3 months and, with a 90% probability hold a price between HK$0.367 and HK$0.489 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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1238.HK Signals & Forecast
The Powerlong Real Estate Holdings Limited 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$0.526 and HK$0.572. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 27.08%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Powerlong Real Estate Holdings Limited stock
Powerlong Real Estate Holdings Limited finds support from accumulated volume at HK$0.600 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0600 between high and low, or 10.91%. For the last week, the stock has had daily average volatility of 6.55%.
Our recommended stop-loss: HK$0.587 (-3.72%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (1238.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Powerlong Real Estate Holdings Limited to open at HK$0.590, and during the day (based on 14 day Average True Range), to move between HK$0.577 and HK$0.643, which gives a possible trading interval of +/-HK$0.0325 (+/-5.33%) up or down from last closing price. If Powerlong Real Estate Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.620 (1.64%) than the support at HK$0.600 (1.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Powerlong Real Estate Holdings Limited stock A Buy?
Powerlong Real Estate Holdings Limited 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Powerlong Real Estate Holdings Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$0.590 ( 3.28%) | HK$0.610 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1238.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.650 | 6.56 % | |
| R2 | 0.627 | 2.80 % | ||
| R1 | 0.613 | 0.479 % | ||
| Current price: | 0.610 | |||
| Support | S1 | 0.567 | -7.04 % | |
| S2 | 0.553 | -9.36 % | ||
| S3 | 0.530 | -13.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.660 | 8.20 % | |
| R2 | 0.650 | 6.56 % | ||
| R1 | 0.620 | 1.64 % | ||
| Current price | 0.610 | |||
| Support | S1 | 0.600 | -1.64% | |
| S2 | 0.550 | -9.84% | ||
| S3 | 0.480 | -21.31% |
1238 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | HK$0.100 | 5.49% |
| 2 | Dec 06, 2021 | Dec 06, 2021 | Dec 06, 2021 | HK$0.180 | 4.16% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | HK$0.330 | 4.69% |
| 4 | Nov 25, 2020 | Nov 25, 2020 | Nov 25, 2020 | HK$0.120 | 2.17% |
| 5 | Mar 09, 2020 | Jun 16, 2020 | Aug 04, 2020 | HK$0.0400 | 0.84% |
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