Changsha Broad Homes Indstrl Grp Co Ltd Stock Forecast
Changsha Broad Homes Indstrl Grp Co Ltd stock upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Changsha Broad Homes Indstrl Grp Co Ltd stock price gained 4.17% on the last trading day (Wednesday, 26th Jun 2024), rising from HK$1.44 to HK$1.50. During the last trading day the stock fluctuated 5.56% from a day low at HK$1.44 to a day high of HK$1.52. The price has fallen in 6 of the last 10 days and is down by -20.21% for this period. Volume fell on the last day by -628 thousand shares and in total, 137 thousand shares were bought and sold for approximately HK$205.65 thousand. 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 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$1.43 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -22.60% during the next 3 months and, with a 90% probability hold a price between HK$1.11 and HK$1.50 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
2163.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 4.17%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Changsha Broad Homes Indstrl Grp 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$1.69 and HK$1.96. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Changsha Broad Homes Indstrl Grp Co Ltd stock
Changsha Broad Homes Indstrl Grp Co Ltd finds support from accumulated volume at HK$1.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0800 between high and low, or 5.56%. For the last week the stock has had daily average volatility of 12.81%.
Changsha Broad Homes Indstrl Grp Co Ltd is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2163.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Changsha Broad Homes Indstrl Grp Co Ltd to open at HK$1.49, and during the day (based on 14 day Average True Range), to move between HK$1.37 and HK$1.63, which gives a possible trading interval of +/-HK$0.127 (+/-8.45%) up or down from last closing price. If Changsha Broad Homes Indstrl Grp Co Ltd takes out the full calculated possible swing range there will be an estimated 16.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$1.44 (4.00%) than the resistance at HK$1.64 (9.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Changsha Broad Homes Indstrl Grp Co Ltd stock A Buy?
Changsha Broad Homes Indstrl Grp 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.514 Sell Candidate Upgraded
Predicted Opening Price for Changsha Broad Homes Indstrl Grp Co Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$1.49 ( 0.89%) | HK$1.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2163.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.57 | 4.44% |
| R2 | 1.54 | 2.41% |
| R1 | 1.52 | 1.15% |
| Price | 1.50 | |
| S1 | 1.46 | -2.93% |
| S2 | 1.44 | -4.18% |
| S3 | 1.41 | -6.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.87 | 24.67% |
| R2 | 1.84 | 22.67% |
| R1 | 1.64 | 9.33% |
| Price | 1.50 | |
| S1 | 1.44 | -4.00% |
| S2 | 0 | - |
| S3 | 0 | - |
2163 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2020 | May 19, 2020 | Jun 24, 2020 | HK$0.547 | 4.21% |
FAQ
Click here for our free guide on how to buy Changsha Broad Homes Indstrl Grp Co Ltd Stock.
