ANTA Sports Products Limited Stock Forecast
ANTA Sports Products Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The ANTA Sports Products Limited stock price gained 2.86% on the last trading day (Friday, 3rd May 2024), rising from HK$90.95 to HK$93.55. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.59% from a day low at HK$92.55 to a day high of HK$94.95. The price has risen in 7 of the last 10 days and is up by 10.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately HK$716.74 million.
The stock lies in the upper part of a wide and strong rising 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$95.14 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 25.53% during the next 3 months and, with a 90% probability hold a price between HK$106.88 and HK$119.43 at the end of this 3-month period.
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2020.HK Signals & Forecast
Mostly positive signals in the chart today. The ANTA Sports Products Limited 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$90.27 and HK$84.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.28%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ANTA Sports Products Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$88.65 and HK$83.55. 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, ANTA Sports Products Limited finds support just below today's level at HK$88.65. If this is broken, then the next support from accumulated volume will be at HK$83.55 and HK$79.50.
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 2.59%. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: HK$90.18 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (2020.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ANTA Sports Products Limited to open at HK$93.68, and during the day (based on 14 day Average True Range), to move between HK$90.53 and HK$96.57, which gives a possible trading interval of +/-HK$3.02 (+/-3.23%) up or down from last closing price. If ANTA Sports Products Limited takes out the full calculated possible swing range there will be an estimated 6.47% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$88.65, some HK$4.90 (5.24%) from the current price of HK$93.55, our system finds the risk reward attractive.
Is ANTA Sports Products Limited stock A Buy?
ANTA Sports Products Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.639 Strong Buy Candidate Upgraded
Predicted Opening Price for ANTA Sports Products Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$93.68 ( 0.143%) | HK$93.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2020.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.08 | 2.71 % | |
| R2 | 95.17 | 1.73 % | ||
| R1 | 94.60 | 1.12 % | ||
| Current price: | 93.55 | |||
| Support | S1 | 92.77 | -0.84 % | |
| S2 | 92.20 | -1.44 % | ||
| S3 | 91.28 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 93.55 | |||
| Support | S1 | 88.65 | -5.24% | |
| S2 | 83.55 | -10.69% | ||
| S3 | 79.50 | -15.02% |
2020 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 27, 2024 | HK$1.15 | 1.23% |
| 2 | May 15, 2023 | May 15, 2023 | May 15, 2023 | HK$0.720 | 0.781% |
| 3 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | HK$0.620 | 0.700% |
| 4 | May 12, 2022 | May 12, 2022 | May 12, 2022 | HK$0.680 | 0.796% |
| 5 | Jan 12, 2022 | Jan 12, 2022 | Jan 12, 2022 | HK$0.300 | 0.263% |
FAQ
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