Phoenix Media Investment (Holdings) Ltd Stock Forecast
Red day on Wednesday for Phoenix Media Investment (Holdings) Ltd
(Updated on Jun 19, 2024)
No changes to the price of Phoenix Media Investment (Holdings) Ltd stock on the last trading day (Wednesday, 19th Jun 2024). During the last trading day the stock fluctuated 2.27% from a day low at HK$1.76 to a day high of HK$1.80. The price has risen in 4 of the last 10 days and is up by 2.27% over the past 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$1.83 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 -4.64% during the next 3 months and, with a 90% probability hold a price between HK$1.58 and HK$1.75 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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2008.HK Signals & Forecast
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". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Phoenix Media Investment (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$1.80 and HK$1.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -4.26%. 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).
Support, Risk & Stop-loss for Phoenix Media Investment (Holdings) Ltd stock
Phoenix Media Investment (Holdings) Ltd finds support from accumulated volume at HK$1.78 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0400 between high and low, or 2.27%. For the last week the stock has had daily average volatility of 3.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2008.HK) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Phoenix Media Investment (Holdings) Limited to open at HK$1.79, and during the day (based on 14 day Average True Range), to move between HK$1.74 and HK$1.86, which gives a possible trading interval of +/-HK$0.0559 (+/-3.11%) up or down from last closing price. If Phoenix Media Investment (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 6.21% 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$1.82 (1.11%) than the support at HK$1.78 (1.11%), 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 Phoenix Media Investment (Holdings) Limited stock A Buy?
Phoenix Media Investment (Holdings) Ltd holds several negative signals and is within a 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.
Current score: -3.851 Sell Candidate Unchanged
Predicted Opening Price for Phoenix Media Investment (Holdings) Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| HK$1.79 ( 0.741%) | HK$1.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2008.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.83 | 1.48% |
| R2 | 1.81 | 0.633% |
| R1 | 1.80 | 0.108% |
| Price | 1.80 | |
| S1 | 1.77 | -1.59% |
| S2 | 1.76 | -2.11% |
| S3 | 1.75 | -2.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.87 | 3.89% |
| R2 | 1.85 | 2.78% |
| R1 | 1.82 | 1.11% |
| Price | 1.80 | |
| S1 | 1.78 | -1.11% |
| S2 | 1.77 | -1.67% |
| S3 | 1.71 | -5.00% |
2008 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2019 | Jun 10, 2019 | Jun 24, 2019 | HK$0.0100 | 0.139% |
| 2 | Mar 16, 2018 | Jun 08, 2018 | Jun 22, 2018 | HK$0.0100 | 0.147% |
| 3 | Mar 17, 2017 | Jun 09, 2017 | Jun 30, 2017 | HK$0.0100 | 0.0870% |
| 4 | Mar 17, 2016 | Jun 08, 2016 | Jun 30, 2016 | HK$0.0100 | 0.0575% |
| 5 | Mar 17, 2015 | Jun 09, 2015 | Jun 30, 2015 | HK$0.0400 | 0.153% |
FAQ
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