EuroEyes International Eye Clinic Ltd Stock Forecast
EuroEyes International Eye Clinic Ltd stock upgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
No changes to the price of EuroEyes International Eye Clinic Ltd stock on the last trading day (Friday, 19th Apr 2024). During the last trading day the stock fluctuated 2.61% from a day low at HK$4.60 to a day high of HK$4.72. The price has been going up and down for this period, and there has been a 3.76% 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$4.79 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 -9.12% during the next 3 months and, with a 90% probability hold a price between HK$3.88 and HK$4.35 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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1846.HK Signals & Forecast
The EuroEyes International Eye Clinic Ltd 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$4.66 and HK$4.65. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Monday, April 15, 2024, and so far it has fallen -2.70%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for EuroEyes International Eye Clinic Ltd stock
EuroEyes International Eye Clinic Ltd finds support from accumulated volume at HK$4.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.120 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: HK$4.47 (-4.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (1846.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect EuroEyes International Eye Clinic Ltd to open at HK$4.67, and during the day (based on 14 day Average True Range), to move between HK$4.57 and HK$4.81, which gives a possible trading interval of +/-HK$0.117 (+/-2.49%) up or down from last closing price. If EuroEyes International Eye Clinic Ltd takes out the full calculated possible swing range there will be an estimated 4.99% 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$4.70 (0.21%) than the support at HK$4.65 (0.85%), 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 EuroEyes International Eye Clinic Ltd stock A Buy?
EuroEyes International Eye Clinic Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.859 Hold/Accumulate Upgraded
Predicted Opening Price for EuroEyes International Eye Clinic Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$4.67 ( 0.426%) | HK$4.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1846.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.79 | 2.13 % | |
| R2 | 4.74 | 1.15 % | ||
| R1 | 4.72 | 0.551 % | ||
| Current price: | 4.69 | |||
| Support | S1 | 4.62 | -1.40 % | |
| S2 | 4.60 | -2.01 % | ||
| S3 | 4.55 | -2.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.99 | 6.40 % | |
| R2 | 4.75 | 1.28 % | ||
| R1 | 4.70 | 0.213 % | ||
| Current price | 4.69 | |||
| Support | S1 | 4.65 | -0.85% | |
| S2 | 4.56 | -2.77% | ||
| S3 | 4.43 | -5.54% |
1846 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.0627 | 1.25% |
| 2 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.0993 | 1.50% |
| 3 | May 25, 2021 | May 25, 2021 | May 25, 2021 | HK$0.0299 | 0.290% |
FAQ
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