HKBN Ltd. Stock Forecast
High volatility in HKBN Ltd. stock price on Monday which ended trading at HK$2.52
(Updated on Apr 29, 2024)
The HKBN Ltd. stock price fell by -16.56% on the last day (Monday, 29th Apr 2024) from HK$3.02 to HK$2.52. During the last trading day the stock fluctuated 16.94% from a day low at HK$2.48 to a day high of HK$2.90. The price has risen in 6 of the last 10 days but is still down by -16.56% for this period. Volume has increased on the last day by 57 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 59 million shares were bought and sold for approximately HK$148.74 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (HK$2.57) are considered to be a "second chance" to get out. According to the fan-theory HK$2.10 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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1310.HK Signals & Forecast
There are few to no technical positive signals at the moment. The HKBN Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$2.89 and HK$2.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -16.56%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for HKBN Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.420 between high and low, or 16.94%. For the last week, the stock has had daily average volatility of 4.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1310.HK) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect HKBN Ltd. to open at HK$2.63, and during the day (based on 14 day Average True Range), to move between HK$2.40 and HK$2.64, which gives a possible trading interval of +/-HK$0.120 (+/-4.75%) up or down from last closing price. If HKBN Ltd. takes out the full calculated possible swing range there will be an estimated 9.49% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$2.81, some HK$0.290 (11.51%) from the current price of HK$2.52, our system finds the risk reward not very attractive.
Is HKBN Ltd. stock A Buy?
HKBN Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.908 Sell Candidate Downgraded
Predicted Opening Price for HKBN Ltd. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| HK$2.63 ( 4.50%) | HK$2.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1310.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.05 | 21.16 % | |
| R2 | 2.89 | 14.80 % | ||
| R1 | 2.79 | 10.86 % | ||
| Current price: | 2.52 | |||
| Support | S1 | 2.47 | -1.87 % | |
| S2 | 2.37 | -5.80 % | ||
| S3 | 2.21 | -12.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.03 | 20.24 % | |
| R2 | 3.00 | 19.05 % | ||
| R1 | 2.81 | 11.51 % | ||
| Current price | 2.52 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
1310 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | Jun 05, 2024 | HK$0.150 | 5.95% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | HK$0 | 0% |
| 3 | May 16, 2023 | May 16, 2023 | May 16, 2023 | HK$0.200 | 3.66% |
| 4 | Dec 21, 2022 | Dec 21, 2022 | Dec 21, 2022 | HK$0.200 | 4.04% |
| 5 | May 11, 2022 | May 11, 2022 | May 11, 2022 | HK$0.400 | 4.64% |
FAQ
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