China Shengmu Organic Milk Limited Stock Forecast
China Shengmu Organic Milk Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)
The China Shengmu Organic Milk Limited stock price gained 0.559% on the last trading day (Friday, 14th Jun 2024), rising from HK$0.179 to HK$0.180. During the last trading day the stock fluctuated 3.89% from a day low at HK$0.180 to a day high of HK$0.187. The price has fallen in 6 of the last 10 days and is down by -10% for this period. Volume fell on the last day by -675 thousand shares and in total, 51 thousand shares were bought and sold for approximately HK$9.18 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$0.179 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect China Shengmu Organic Milk Limited stock with a 90% probability to be traded between HK$0.180 and HK$0.205 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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1432.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.559%. 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 China Shengmu Organic Milk Limited 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$0.189 and HK$0.196. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for China Shengmu Organic Milk Limited stock
China Shengmu Organic Milk Limited finds support from accumulated volume at HK$0.179 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$0.0070 between high and low, or 3.89%. For the last week the stock has had daily average volatility of 3.62%.
China Shengmu Organic Milk Limited 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: HK$0.169 (-6.06%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 21 which reduces the risk some. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (1432.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect China Shengmu Organic Milk Limited to open at HK$0.182, and during the day (based on 14 day Average True Range), to move between HK$0.175 and HK$0.185, which gives a possible trading interval of +/-HK$0.0053 (+/-2.92%) up or down from last closing price. If China Shengmu Organic Milk Limited takes out the full calculated possible swing range there will be an estimated 5.84% 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$0.179 (0.56%) than the resistance at HK$0.186 (3.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Shengmu Organic Milk Limited stock A Buy?
China Shengmu Organic Milk Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.680 Hold/Accumulate Upgraded
Predicted Opening Price for China Shengmu Organic Milk Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$0.182 ( 1.30%) | HK$0.180 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1432.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.189 | 5.19% |
| R2 | 0.187 | 3.70% |
| R1 | 0.185 | 2.78% |
| Price | 0.180 | |
| S1 | 0.180 | -0.189% |
| S2 | 0.178 | -1.11% |
| S3 | 0.175 | -2.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.200 | 11.11% |
| R2 | 0.197 | 9.44% |
| R1 | 0.186 | 3.33% |
| Price | 0.180 | |
| S1 | 0.179 | -0.556% |
| S2 | 0 | - |
| S3 | 0 | - |
1432 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jul 05, 2024 | HK$0.0023 | 1.28% |
| 2 | Jun 19, 2023 | Jun 19, 2023 | Jun 19, 2023 | HK$0.0113 | 3.05% |
FAQ
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