Lever Style Corp Stock Forecast
Is Lever Style Corp stock still a buy after falling -6.10% on Tuesday?
(Updated on Jul 02, 2024)
The Lever Style Corp stock price fell by -6.10% on the last day (Tuesday, 2nd Jul 2024) from HK$0.82 to HK$0.770. During the last trading day the stock fluctuated 6.58% from a day low at HK$0.760 to a day high of HK$0.81. The price has fallen in 4 of the last 10 days and is down by -12.5% for this period. Volume has increased on the last day by 256 thousand 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, 268 thousand shares were bought and sold for approximately HK$206.36 thousand.
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$0.792) are considered to be a "second chance" to get out. According to the fan-theory HK$0.655 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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1346.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Lever Style Corp 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$0.82 and HK$0.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -19.79%. 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). Lever Style Corp 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 Lever Style Corp 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$0.0500 between high and low, or 6.58%. For the last week, the stock has had daily average volatility of 2.31%.
Lever Style Corp is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1346.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Lever Style Corp to open at HK$0.780, and during the day (based on 14 day Average True Range), to move between HK$0.745 and HK$0.795, which gives a possible trading interval of +/-HK$0.0250 (+/-3.24%) up or down from last closing price. If Lever Style Corp takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.90, some HK$0.130 (16.88%) from the current price of HK$0.770, our system finds the risk reward not very attractive.
Is Lever Style Corp stock A Buy?
Lever Style Corp 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 Hold/Accumulate to a Strong Sell candidate.
Current score: -7.063 Strong Sell Candidate Downgraded
Predicted Opening Price for Lever Style Corp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.780 ( 1.30%) | HK$0.770 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1346.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.83 | 7.79% |
| R2 | 0.81 | 5.31% |
| R1 | 0.799 | 3.78% |
| Price | 0.770 | |
| S1 | 0.761 | -1.18% |
| S2 | 0.749 | -2.71% |
| S3 | 0.730 | -5.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.95 | 23.38% |
| R2 | 0.93 | 20.78% |
| R1 | 0.90 | 16.88% |
| Price | 0.770 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
1346 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Apr 23, 2024 | Apr 30, 2024 | HK$0.0600 | 6.82% |
| 2 | Sep 12, 2023 | Sep 12, 2023 | Sep 12, 2023 | HK$0.0300 | 3.49% |
| 3 | Jun 19, 2023 | Jun 19, 2023 | Jun 19, 2023 | HK$0.0850 | 13.08% |
| 4 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | HK$0.0250 | 6.25% |
| 5 | Mar 30, 2020 | Jun 19, 2020 | Jul 08, 2020 | HK$0.0400 | 9.30% |
FAQ
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