BaWang International (Group) Holding Ltd Stock Forecast
High volatility in BaWang International (Group) Holding Ltd stock price on Friday which ended trading at HK$0.0480
(Updated on May 17, 2024)
The BaWang International (Group) Holding Ltd stock price fell by -12.73% on the last day (Friday, 17th May 2024) from HK$0.0550 to HK$0.0480. During the last trading day the stock fluctuated 26.19% from a day low at HK$0.0420 to a day high of HK$0.0530. The price has risen in 4 of the last 10 days and is up by 6.67% over the past 2 weeks. Volume has increased on the last day by 11 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, 11 million shares were bought and sold for approximately HK$536.74 thousand.
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 BaWang International (Group) Holding Ltd stock with a 90% probability to be traded between HK$0.0421 and HK$0.0561 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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1338.HK Signals & Forecast
The BaWang International (Group) Holding Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.0493. On a fall, the stock will find some support from the long-term average at approximately HK$0.0458. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 16, 2024, and so far it has fallen -12.73%. Further fall is indicated until a new bottom pivot has been found. BaWang International (Group) Holding Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for BaWang International (Group) Holding Ltd stock
BaWang International (Group) Holding Ltd finds support from accumulated volume at HK$0.0470 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$0.0110 between high and low, or 26.19%. For the last week, the stock has had daily average volatility of 16.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1338.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BaWang International (Group) Holding Limited to open at HK$0.0477, and during the day (based on 14 day Average True Range), to move between HK$0.0432 and HK$0.0528, which gives a possible trading interval of +/-HK$0.0048 (+/-10.06%) up or down from last closing price. If BaWang International (Group) Holding Limited takes out the full calculated possible swing range there will be an estimated 20.12% 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$0.0470 (2.08%) than the resistance at HK$0.0500 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BaWang International (Group) Holding Limited stock A Buy?
BaWang International (Group) Holding Ltd holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -1.325 Sell Candidate Downgraded
Predicted Opening Price for BaWang International (Group) Holding Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
HK$0.0477 ( 0.694%) | HK$0.0480 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1338.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0587 | 22.22 % | |
R2 | 0.0545 | 13.47 % | ||
R1 | 0.0519 | 8.06 % | ||
Current price: | 0.0480 | |||
Support | S1 | 0.0435 | -9.45 % | |
S2 | 0.0409 | -14.86 % | ||
S3 | 0.0367 | -23.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0550 | 14.58 % | |
R2 | 0.0510 | 6.25 % | ||
R1 | 0.0500 | 4.17 % | ||
Current price | 0.0480 | |||
Support | S1 | 0.0470 | -2.08% | |
S2 | 0.0450 | -6.25% | ||
S3 | 0.0420 | -12.50% |
1338 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 22, 2010 | Sep 09, 2010 | Sep 28, 2010 | HK$0.0250 | 0.731% |
2 | Apr 15, 2010 | May 18, 2010 | Jun 10, 2010 | HK$0.0425 | 0.739% |
FAQ
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