Bright Smart Securities & Commodities Stock Forecast
Green day on Thursday for Bright Smart Securities & Commodities stock after gaining 2.42%
(Updated on May 02, 2024)
The Bright Smart Securities & Commodities stock price gained 2.42% on the last trading day (Thursday, 2nd May 2024), rising from HK$1.65 to HK$1.69. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.66% from a day low at HK$1.64 to a day high of HK$1.70. The price has risen in 8 of the last 10 days and is up by 12.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately HK$10.73 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.89% during the next 3 months and, with a 90% probability hold a price between HK$1.61 and HK$1.97 at the end of this 3-month period.
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1428.HK Signals & Forecast
Mostly positive signals in the chart today. The Bright Smart Securities & Commodities stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$1.60 and HK$1.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.19%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Bright Smart Securities & Commodities stock
Bright Smart Securities & Commodities finds support from accumulated volume at HK$1.68 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$0.0600 between high and low, or 3.66%. For the last week, the stock has had daily average volatility of 3.66%.
Since the Bright Smart Securities & Commodities has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: HK$1.63 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (1428.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bright Smart Securities & Commodities Group Limited to open at HK$1.68, and during the day (based on 14 day Average True Range), to move between HK$1.64 and HK$1.74, which gives a possible trading interval of +/-HK$0.0500 (+/-2.96%) up or down from last closing price. If Bright Smart Securities & Commodities Group Limited takes out the full calculated possible swing range there will be an estimated 5.92% 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$1.70 (0.59%) than the support at HK$1.68 (0.59%), 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 Bright Smart Securities & Commodities Group Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bright Smart Securities & Commodities stock to perform well in the short-term.
Current score: 2.276 Buy Candidate Unchanged
Predicted Opening Price for Bright Smart Securities & Commodities Group Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$1.68 ( 0.789%) | HK$1.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1428.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.74 | 2.76 % | |
| R2 | 1.71 | 1.41 % | ||
| R1 | 1.70 | 0.567 % | ||
| Current price: | 1.69 | |||
| Support | S1 | 1.65 | -2.15 % | |
| S2 | 1.64 | -2.98 % | ||
| S3 | 1.62 | -4.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.78 | 5.33 % | |
| R2 | 1.71 | 1.18 % | ||
| R1 | 1.70 | 0.592 % | ||
| Current price | 1.69 | |||
| Support | S1 | 1.68 | -0.592% | |
| S2 | 1.63 | -3.55% | ||
| S3 | 1.54 | -8.88% |
1428 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 10, 2023 | Jan 10, 2023 | Jan 10, 2023 | HK$0.700 | 52.63% |
| 2 | Aug 23, 2022 | Aug 23, 2022 | Aug 23, 2022 | HK$0.100 | 7.69% |
| 3 | Aug 20, 2021 | Aug 20, 2021 | Aug 20, 2021 | HK$0.130 | 7.98% |
| 4 | Jun 29, 2020 | Aug 25, 2020 | Sep 09, 2020 | HK$0.280 | 17.39% |
| 5 | Jan 22, 2020 | Feb 06, 2020 | Feb 28, 2020 | HK$0.80 | 75.47% |
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