Able Engineering Holdings Limited Stock Forecast
Able Engineering Holdings Limited stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
No changes to the price of Able Engineering Holdings Limited stock on the last trading day (Thursday, 27th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.410 to a day high of HK$0.410. The price has been going up and down for this period, and there has been a 2.5% gain for the last 2 weeks.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Able Engineering Holdings Limited stock with a 90% probability to be traded between HK$0.394 and HK$0.422 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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1627.HK Signals & Forecast
The Able Engineering Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.405 and HK$0.401. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, June 17, 2024 and based on theory for this formation the price should fall by -4.63% to HK$0.391 within 20 trading days since signal was issued (Tuesday, July 16, 2024).
Support, Risk & Stop-loss for Able Engineering Holdings Limited stock
Able Engineering Holdings Limited finds support from accumulated volume at HK$0.405 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.49%
Our recommended stop-loss: HK$0.395 (-3.66%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (1627.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Able Engineering Holdings Limited to open at HK$0.410, and during the day (based on 14 day Average True Range), to move between HK$0.405 and HK$0.415, which gives a possible trading interval of +/-HK$0.0051 (+/-1.26%) up or down from last closing price. If Able Engineering Holdings Limited takes out the full calculated possible swing range there will be an estimated 2.51% 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$0.405 (1.22%) than the resistance at HK$0.415 (1.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Able Engineering Holdings Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Able Engineering Holdings Limited stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.732 Buy Candidate Downgraded
Predicted Opening Price for Able Engineering Holdings Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$0.410 ( 0%) | HK$0.410 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1627.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.410 | - |
| R2 | 0.410 | - |
| R1 | 0.410 | - |
| Price | 0.410 | |
| S1 | 0.410 | - |
| S2 | 0.410 | - |
| S3 | 0.410 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.415 | 1.22% |
| Price | 0.410 | |
| S1 | 0.405 | -1.22% |
| S2 | 0.400 | -2.44% |
| S3 | 0.390 | -4.88% |
1627 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 31, 2023 | Aug 31, 2023 | Sep 27, 2023 | HK$0.0500 | 12.99% |
| 2 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | HK$0.0350 | 9.86% |
| 3 | Aug 30, 2021 | Aug 30, 2021 | Aug 30, 2021 | HK$0.0250 | 6.41% |
| 4 | Jun 25, 2019 | Sep 05, 2019 | Sep 20, 2019 | HK$0.0400 | 8.79% |
| 5 | Jun 22, 2018 | Sep 06, 2018 | Sep 21, 2018 | HK$0.0500 | 9.26% |
FAQ
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