AAC Technologies Holdings Inc. Stock Forecast
Volatile ride for AAC Technologies Holdings Inc. stock price on Friday moving between HK$23.45 and HK$25.85
(Updated on May 17, 2024)
The AAC Technologies Holdings Inc. stock price fell by -7.31% on the last day (Friday, 17th May 2024) from HK$26.00 to HK$24.10. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 10.23% from a day low at HK$23.45 to a day high of HK$25.85. The price has risen in 6 of the last 10 days but is still down by -4.55% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 million shares were bought and sold for approximately HK$331.70 million.
Given the current short-term trend, the stock is expected to rise 38.30% during the next 3 months and, with a 90% probability hold a price between HK$33.33 and HK$38.95 at the end of this 3-month period.
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2018.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The AAC Technologies Holdings Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$26.59 and HK$25.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -12.36%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for AAC Technologies Holdings Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$22.45 and HK$22.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, AAC Technologies Holdings Inc. finds support just below today's level at HK$22.45. If this is broken, then the next support from accumulated volume will be at HK$22.10 and HK$18.84.
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$2.40 between high and low, or 10.23%. For the last week, the stock has had daily average volatility of 6.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2018.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect AAC Technologies Holdings Inc. to open at HK$24.47, and during the day (based on 14 day Average True Range), to move between HK$22.76 and HK$25.44, which gives a possible trading interval of +/-HK$1.34 (+/-5.58%) up or down from last closing price. If AAC Technologies Holdings Inc. takes out the full calculated possible swing range there will be an estimated 11.15% 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$25.00 (3.73%) than the support at HK$22.45 (6.85%), 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 AAC Technologies Holdings Inc. stock A Buy?
The AAC Technologies Holdings Inc. stock holds several negative signals and despite the positive trend, we believe AAC Technologies Holdings Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -4.406 Sell Candidate Downgraded
Predicted Opening Price for AAC Technologies Holdings Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$24.47 ( 1.52%) | HK$24.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2018.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.87 | 11.48 % | |
| R2 | 25.95 | 7.68 % | ||
| R1 | 25.38 | 5.33 % | ||
| Current price: | 24.10 | |||
| Support | S1 | 23.55 | -2.28 % | |
| S2 | 22.98 | -4.63 % | ||
| S3 | 22.07 | -8.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.30 | 13.28 % | |
| R2 | 26.25 | 8.92 % | ||
| R1 | 25.00 | 3.73 % | ||
| Current price | 24.10 | |||
| Support | S1 | 22.45 | -6.85% | |
| S2 | 22.10 | -8.30% | ||
| S3 | 18.84 | -21.83% |
2018 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2024 | May 27, 2024 | Jun 20, 2024 | HK$0.100 | 0.415% |
| 2 | May 29, 2023 | May 29, 2023 | May 29, 2023 | HK$0.120 | 0.737% |
| 3 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | HK$0.200 | 0.473% |
| 4 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$0.200 | 0.423% |
| 5 | Sep 09, 2020 | Sep 09, 2020 | Sep 09, 2020 | HK$0.100 | 0.211% |
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