Meitu, Inc. Stock Forecast
Red day on Tuesday for Meitu, Inc.
(Updated on May 28, 2024)
The Meitu, Inc. stock price fell by -3.32% on the last day (Tuesday, 28th May 2024) from HK$3.01 to HK$2.91. During the last trading day the stock fluctuated 4.14% from a day low at HK$2.90 to a day high of HK$3.02. The price has fallen in 8 of the last 10 days and is down by -11.01% for this period. Volume has increased on the last day by 9 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, 37 million shares were bought and sold for approximately HK$106.80 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$2.73 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 4.40% during the next 3 months and, with a 90% probability hold a price between HK$2.85 and HK$3.96 at the end of this 3-month period.
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1357.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Meitu, Inc. 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$3.05 and HK$3.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -20.71%. 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 Meitu, Inc. stock
Meitu, Inc. finds support from accumulated volume at HK$2.79 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.120 between high and low, or 4.14%. For the last week, the stock has had daily average volatility of 4.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1357.HK) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Meitu, Inc. to open at HK$2.94, and during the day (based on 14 day Average True Range), to move between HK$2.74 and HK$3.08, which gives a possible trading interval of +/-HK$0.171 (+/-5.87%) up or down from last closing price. If Meitu, Inc. takes out the full calculated possible swing range there will be an estimated 11.74% 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$2.79 (4.12%) than the resistance at HK$3.15 (8.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Meitu, Inc. stock A Buy?
The Meitu, Inc. stock holds several negative signals and despite the positive trend, we believe Meitu, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.684 Sell Candidate Unchanged
Predicted Opening Price for Meitu, Inc. of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| HK$2.94 ( 1.15%) | HK$2.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1357.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.06 | 5.27 % | |
| R2 | 3.02 | 3.69 % | ||
| R1 | 2.99 | 2.72 % | ||
| Current price: | 2.91 | |||
| Support | S1 | 2.90 | -0.430 % | |
| S2 | 2.87 | -1.40 % | ||
| S3 | 2.82 | -2.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.61 | 24.05 % | |
| R2 | 3.22 | 10.65 % | ||
| R1 | 3.15 | 8.25 % | ||
| Current price | 2.91 | |||
| Support | S1 | 2.79 | -4.12% | |
| S2 | 2.74 | -5.84% | ||
| S3 | 2.58 | -11.34% |
1357 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 26, 2024 | HK$0.0360 | 1.24% |
| 2 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | HK$0.0200 | 0.99% |
FAQ
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