Huayu Expressway Group Limited Stock Forecast
Huayu Expressway Group Limited stock downgraded to Hold/Accumulate
(Updated on Jun 27, 2024)
No changes to the price of Huayu Expressway Group 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$0.87 to a day high of HK$0.87. The price has been going up and down for this period, and there has been a 6.1% gain for the last 2 weeks.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.88 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.93% during the next 3 months and, with a 90% probability hold a price between HK$0.642 and HK$0.785 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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1823.HK Signals & Forecast
The Huayu Expressway Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.84 and HK$0.84. A breakdown below any of these levels will issue sell signals. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 28, 2024 and based on theory for this formation the price should fall by -4.80% to HK$0.83 within 17 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for Huayu Expressway Group Limited stock
Huayu Expressway Group Limited finds support from accumulated volume at HK$0.85 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 0.96%
Our recommended stop-loss: HK$0.84 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (1823.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Huayu Expressway Group Limited to open at HK$0.87, and during the day (based on 14 day Average True Range), to move between HK$0.84 and HK$0.90, which gives a possible trading interval of +/-HK$0.0262 (+/-3.01%) up or down from last closing price. If Huayu Expressway Group Limited takes out the full calculated possible swing range there will be an estimated 6.02% 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$0.88 (1.15%) than the support at HK$0.85 (2.30%), 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 Huayu Expressway Group Limited stock A Buy?
Huayu Expressway Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: -0.641 Hold/Accumulate Downgraded
Predicted Opening Price for Huayu Expressway Group Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$0.87 ( 0%) | HK$0.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1823.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.87 | - |
| R2 | 0.87 | - |
| R1 | 0.87 | - |
| Price | 0.87 | |
| S1 | 0.87 | - |
| S2 | 0.87 | - |
| S3 | 0.87 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.95 | 9.20% |
| R2 | 0.92 | 5.75% |
| R1 | 0.88 | 1.15% |
| Price | 0.87 | |
| S1 | 0.85 | -2.30% |
| S2 | 0.82 | -5.75% |
| S3 | 0.80 | -8.05% |
1823 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | HK$0.121 | 6.40% |
| 2 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | HK$0.0600 | 3.49% |
| 3 | Feb 04, 2019 | Feb 20, 2019 | Mar 12, 2019 | HK$0.121 | 17.79% |
FAQ
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