Town Ray Holdings Ltd Stock Forecast
Red day on Monday for Town Ray Holdings Ltd
(Updated on May 20, 2024)
The Town Ray Holdings Ltd stock price fell by -0.719% on the last day (Monday, 20th May 2024) from HK$2.78 to HK$2.76. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.09% from a day low at HK$2.76 to a day high of HK$2.79. The price has been going up and down for this period, and there has been a -1.43% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 thousand shares and in total, 152 thousand shares were bought and sold for approximately HK$419.52 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$2.71, a level that may pose a second chance to hit a runner. According to fan-theory HK$3.07 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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1692.HK Signals & Forecast
There are mixed signals in the stock today. The Town Ray Holdings 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$2.79 and HK$2.82. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Town Ray Holdings 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.
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$0.0300 between high and low, or 1.09%. For the last week the stock has had daily average volatility of 1.15%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1692.HK) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Town Ray Holdings Ltd to open at HK$2.77, and during the day (based on 14 day Average True Range), to move between HK$2.72 and HK$2.80, which gives a possible trading interval of +/-HK$0.0397 (+/-1.44%) up or down from last closing price. If Town Ray Holdings Ltd takes out the full calculated possible swing range there will be an estimated 2.88% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$2.79, some HK$0.0300 (1.09%) from the current price of HK$2.76, our system finds the risk reward not very attractive.
Is Town Ray Holdings Ltd stock A Buy?
Town Ray Holdings Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.610 Sell Candidate Unchanged
Predicted Opening Price for Town Ray Holdings Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| HK$2.77 ( 0.362%) | HK$2.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1692.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.80 | 1.45 % | |
| R2 | 2.79 | 1.03 % | ||
| R1 | 2.78 | 0.778 % | ||
| Current price: | 2.76 | |||
| Support | S1 | 2.76 | -0.0529 % | |
| S2 | 2.75 | -0.309 % | ||
| S3 | 2.74 | -0.725 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.90 | 5.07 % | |
| R2 | 2.80 | 1.45 % | ||
| R1 | 2.79 | 1.09 % | ||
| Current price | 2.76 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
1692 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 25, 2024 | Jun 25, 2024 | Jul 11, 2024 | HK$0.151 | 5.43% |
| 2 | May 31, 2023 | May 31, 2023 | May 31, 2023 | HK$0.193 | 6.66% |
| 3 | Sep 09, 2022 | Sep 09, 2022 | Sep 09, 2022 | HK$0.108 | 5.60% |
| 4 | May 31, 2022 | May 31, 2022 | May 31, 2022 | HK$0.160 | 8.21% |
| 5 | Sep 13, 2021 | Sep 13, 2021 | Sep 13, 2021 | HK$0.0980 | 4.36% |
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