Wharf Real Estate Investment Co Ltd Stock Forecast
Weaker technical forecast for Wharf Real Estate Investment Co Ltd as stock downgraded to Strong Sell Candidate.
(Updated on Jun 20, 2024)
The Wharf Real Estate Investment Co Ltd stock price fell by -3.23% on the last day (Thursday, 20th Jun 2024) from HK$21.65 to HK$20.95. During the last trading day the stock fluctuated 5.61% from a day low at HK$20.50 to a day high of HK$21.65. The price has fallen in 5 of the last 10 days and is down by -6.26% for this period. 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 -3 million shares and in total, 3 million shares were bought and sold for approximately HK$61.83 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$20.23 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.69% during the next 3 months and, with a 90% probability hold a price between HK$18.06 and HK$23.34 at the end of this 3-month period.
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1997.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Wharf Real Estate Investment 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$21.39 and HK$23.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -23.40%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Wharf Real Estate Investment 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 may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$1.15 between high and low, or 5.61%. For the last week, the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1997.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Wharf Real Estate Investment Company Limited to open at HK$21.03, and during the day (based on 14 day Average True Range), to move between HK$20.10 and HK$21.80, which gives a possible trading interval of +/-HK$0.85 (+/-4.06%) up or down from last closing price. If Wharf Real Estate Investment Company Limited takes out the full calculated possible swing range there will be an estimated 8.11% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$22.65, some HK$1.70 (8.11%) from the current price of HK$20.95, our system finds the risk reward not very attractive.
Is Wharf Real Estate Investment Company Limited stock A Buy?
Wharf Real Estate Investment Co Ltd holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.
Current score: -5.425 Strong Sell Candidate Downgraded
Predicted Opening Price for Wharf Real Estate Investment Company Limited of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
HK$21.03 ( 0.398%) | HK$20.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1997.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 22.18 | 5.89% |
R2 | 21.74 | 3.79% |
R1 | 21.47 | 2.49% |
Price | 20.95 | |
S1 | 20.59 | -1.70% |
S2 | 20.32 | -2.99% |
S3 | 19.88 | -5.09% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 25.45 | 21.48% |
R2 | 24.85 | 18.62% |
R1 | 22.65 | 8.11% |
Price | 20.95 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
1997 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 05, 2024 | Apr 05, 2024 | Apr 23, 2024 | HK$0.610 | 2.61% |
2 | Aug 25, 2023 | Aug 25, 2023 | Sep 12, 2023 | HK$0.670 | 2.10% |
3 | Apr 04, 2023 | Apr 04, 2023 | Apr 04, 2023 | HK$0.610 | 1.32% |
4 | Aug 23, 2022 | Aug 23, 2022 | Aug 23, 2022 | HK$0.700 | 1.89% |
5 | Mar 31, 2022 | Mar 31, 2022 | Mar 31, 2022 | HK$0.640 | 1.65% |
FAQ
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