Tong Ren Tang Technologies Co. Ltd. Stock Forecast
Evaluation of Tong Ren Tang Technologies Co. Ltd. stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Tong Ren Tang Technologies Co. Ltd. stock price fell by -4.65% on the last day (Thursday, 18th Apr 2024) from HK$4.95 to HK$4.72. During the last trading day the stock fluctuated 5.08% from a day low at HK$4.72 to a day high of HK$4.96. The price has fallen in 5 of the last 10 days and is down by -7.45% for this period. Volume has increased on the last day by 2 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, 3 million shares were bought and sold for approximately HK$12.84 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.96% during the next 3 months and, with a 90% probability hold a price between HK$3.69 and HK$4.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1666.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 Tong Ren Tang Technologies Co. Ltd. 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$4.93 and HK$5.07. 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 02, 2024, and so far it has fallen -8.17%. Further fall is indicated until a new bottom pivot has been found. 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 Tong Ren Tang Technologies Co. Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.240 (5.08%) between high and low. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1666.HK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Tong Ren Tang Technologies Co. Ltd. to open at HK$4.80, and during the day (based on 14 day Average True Range), to move between HK$4.56 and HK$4.88, which gives a possible trading interval of +/-HK$0.162 (+/-3.43%) up or down from last closing price. If Tong Ren Tang Technologies Co. Ltd. takes out the full calculated possible swing range there will be an estimated 6.86% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$5.14, some HK$0.420 (8.90%) from the current price of HK$4.72, our system finds the risk reward not very attractive.
Is Tong Ren Tang Technologies Co. Ltd. stock A Buy?
Tong Ren Tang Technologies Co. Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -4.696 Sell Candidate Downgraded
Predicted Opening Price for Tong Ren Tang Technologies Co. Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| HK$4.80 ( 1.69%) | HK$4.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1666.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.04 | 6.78 % | |
| R2 | 4.95 | 4.84 % | ||
| R1 | 4.89 | 3.64 % | ||
| Current price: | 4.72 | |||
| Support | S1 | 4.71 | -0.247 % | |
| S2 | 4.65 | -1.45 % | ||
| S3 | 4.56 | -3.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.66 | 19.92 % | |
| R2 | 5.39 | 14.19 % | ||
| R1 | 5.14 | 8.90 % | ||
| Current price | 4.72 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
1666 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2023 | Jun 19, 2023 | Jun 19, 2023 | HK$0.176 | 2.35% |
| 2 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | HK$0.187 | 3.00% |
| 3 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | HK$0.194 | 2.78% |
| 4 | Mar 30, 2020 | Jun 22, 2020 | Aug 17, 2020 | HK$0.175 | 2.96% |
| 5 | Mar 19, 2019 | Jun 13, 2019 | Aug 08, 2019 | HK$0.205 | 2.39% |
FAQ
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