China Tian Lun Gas Holdings Limited Stock Forecast
China Tian Lun Gas Holdings Limited stock downgraded to Sell Candidate
(Updated on May 06, 2024)
No changes to the price of China Tian Lun Gas Holdings Limited stock on the last trading day (Monday, 6th May 2024). During the last trading day the stock fluctuated 2.52% from a day low at HK$4.77 to a day high of HK$4.89. The price has risen in 4 of the last 10 days and is up by 1.26% over the past 2 weeks.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$4.79 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 20.00% during the next 3 months and, with a 90% probability hold a price between HK$5.75 and HK$6.23 at the end of this 3-month period.
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1600.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Tian Lun Gas Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$4.92 and HK$4.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -6.02%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for China Tian Lun Gas Holdings Limited stock
China Tian Lun Gas Holdings Limited finds support from accumulated volume at HK$4.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.120 (2.52%) between high and low. For the last week, the stock has had daily average volatility of 3.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1600.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect China Tian Lun Gas Holdings Limited to open at HK$4.83, and during the day (based on 14 day Average True Range), to move between HK$4.66 and HK$5.02, which gives a possible trading interval of +/-HK$0.176 (+/-3.64%) up or down from last closing price. If China Tian Lun Gas Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.27% 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$4.89 (1.03%) than the support at HK$4.79 (1.03%), 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 China Tian Lun Gas Holdings Limited stock A Buy?
The China Tian Lun Gas Holdings Limited stock holds several negative signals and despite the positive trend, we believe China Tian Lun Gas Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.714 Sell Candidate Downgraded
Predicted Opening Price for China Tian Lun Gas Holdings Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$4.83 ( 0.138%) | HK$4.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1600.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.95 | 2.34 % | |
| R2 | 4.91 | 1.39 % | ||
| R1 | 4.88 | 0.81 % | ||
| Current price: | 4.84 | |||
| Support | S1 | 4.79 | -1.08 % | |
| S2 | 4.76 | -1.67 % | ||
| S3 | 4.71 | -2.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.91 | 1.45 % | |
| R2 | 4.90 | 1.24 % | ||
| R1 | 4.89 | 1.03 % | ||
| Current price | 4.84 | |||
| Support | S1 | 4.79 | -1.03% | |
| S2 | 4.34 | -10.33% | ||
| S3 | 4.32 | -10.74% |
1600 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 21, 2024 | HK$0.117 | 2.43% |
| 2 | Oct 24, 2023 | Oct 24, 2023 | Oct 24, 2023 | HK$0.0682 | 1.79% |
| 3 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | HK$0.119 | 2.24% |
| 4 | May 31, 2023 | May 31, 2023 | May 31, 2023 | HK$0.110 | 1.83% |
| 5 | Oct 20, 2022 | Oct 20, 2022 | Oct 20, 2022 | HK$0.0816 | 2.66% |
FAQ
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