Lever Style Corp Stock Forecast
Lever Style Corp stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Lever Style Corp stock price fell by -1.11% on the last day (Friday, 3rd May 2024) from HK$0.90 to HK$0.89. During the last trading day the stock fluctuated 1.12% from a day low at HK$0.89 to a day high of HK$0.90. The price has risen in 5 of the last 10 days but is still down by -5.32% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 220 thousand shares were bought and sold for approximately HK$195.80 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.87 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.37% during the next 3 months and, with a 90% probability hold a price between HK$0.96 and HK$1.12 at the end of this 3-month period.
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1346.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 3.49%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lever Style Corp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.94. On a fall, the stock will find some support from the short-term average at HK$0.88. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Lever Style Corp stock
Lever Style Corp finds support from accumulated volume at HK$0.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0100 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.37%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Lever Style Corp to open at HK$0.89, and during the day (based on 14 day Average True Range), to move between HK$0.87 and HK$0.91, which gives a possible trading interval of +/-HK$0.0242 (+/-2.72%) up or down from last closing price. If Lever Style Corp takes out the full calculated possible swing range there will be an estimated 5.45% 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$0.90 (1.12%) than the support at HK$0.87 (2.25%), 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 Lever Style Corp stock A Buy?
Lever Style Corp 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: -2.836 Sell Candidate Downgraded
Predicted Opening Price for Lever Style Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.89 ( 0.375%) | HK$0.89 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.90 | 1.50 % | |
| R2 | 0.90 | 1.07 % | ||
| R1 | 0.90 | 0.80 % | ||
| Current price: | 0.89 | |||
| Support | S1 | 0.89 | -0.0547 % | |
| S2 | 0.89 | -0.320 % | ||
| S3 | 0.88 | -0.749 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.96 | 7.87 % | |
| R2 | 0.95 | 6.74 % | ||
| R1 | 0.90 | 1.12 % | ||
| Current price | 0.89 | |||
| Support | S1 | 0.87 | -2.25% | |
| S2 | 0.86 | -3.37% | ||
| S3 | 0.83 | -6.74% |
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% |
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