COSCO SHIPPING Holdings Co., Ltd. Stock Forecast
COSCO SHIPPING Holdings Co., Ltd. stock price up 2.35% on Friday
(Updated on May 03, 2024)
The COSCO SHIPPING Holdings Co., Ltd. stock price gained 2.35% on the last trading day (Friday, 3rd May 2024), rising from HK$10.22 to HK$10.46. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.37% from a day low at HK$10.08 to a day high of HK$10.52. The price has risen in 10 of the last 10 days and is up by 21.06% over the past 2 weeks. Volume fell on the last day by -25 thousand shares and in total, 20 million shares were bought and sold for approximately HK$209.31 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$9.76, a level that may pose a second chance to hit a runner. According to fan-theory HK$11.06 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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1919.HK Signals & Forecast
The COSCO SHIPPING Holdings Co., 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$9.79 and HK$8.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 31.24%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, November 10, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, November 10, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for COSCO SHIPPING Holdings Co., Ltd. stock
COSCO SHIPPING Holdings Co., Ltd. finds support from accumulated volume at HK$10.16 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$0.440 between high and low, or 4.37%. For the last week, the stock has had daily average volatility of 4.09%.
The COSCO SHIPPING Holdings Co., Ltd. stock is extremely overbought on RSI14 (92). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the COSCO SHIPPING Holdings Co., Ltd. has been rising for 10 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: HK$10.18 (-2.66%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 92 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (1919.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect COSCO SHIPPING Holdings Co., Ltd. to open at HK$10.35, and during the day (based on 14 day Average True Range), to move between HK$10.19 and HK$10.73, which gives a possible trading interval of +/-HK$0.274 (+/-2.62%) up or down from last closing price. If COSCO SHIPPING Holdings Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$10.16, some HK$0.300 (2.87%) from the current price of HK$10.46, our system finds the risk reward attractive.
Is COSCO SHIPPING Holdings Co., Ltd. stock A Buy?
COSCO SHIPPING Holdings Co., 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for COSCO SHIPPING Holdings Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$10.35 ( 1.02%) | HK$10.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1919.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.79 | 3.19 % | |
| R2 | 10.63 | 1.58 % | ||
| R1 | 10.52 | 0.587 % | ||
| Current price: | 10.46 | |||
| Support | S1 | 10.19 | -2.63 % | |
| S2 | 10.08 | -3.62 % | ||
| S3 | 9.91 | -5.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.46 | |||
| Support | S1 | 10.16 | -2.87% | |
| S2 | 9.11 | -12.91% | ||
| S3 | 8.44 | -19.31% |
1919 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | HK$0 | 0% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | HK$1.55 | 21.35% |
| 3 | Nov 25, 2022 | Nov 25, 2022 | Nov 25, 2022 | HK$2.21 | 28.05% |
| 4 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | HK$1.02 | 8.72% |
| 5 | Jun 02, 2011 | Jun 02, 2011 | Jun 02, 2011 | HK$0.0828 | 1.54% |
FAQ
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