Tam Jai International Co. Limited Stock Forecast
Stronger technical forecast for Tam Jai International Co. Limited stock price after Friday trading.
(Updated on May 10, 2024)
The Tam Jai International Co. Limited stock price gained 1.90% on the last trading day (Friday, 10th May 2024), rising from HK$1.05 to HK$1.07. During the last trading day the stock fluctuated 5.71% from a day low at HK$1.05 to a day high of HK$1.11. The price has risen in 7 of the last 10 days and is up by 16.3% 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, 3 million shares were bought and sold for approximately HK$3.70 million.
The stock lies the upper part of a very 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$1.08 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 -13.17% during the next 3 months and, with a 90% probability hold a price between HK$0.747 and HK$0.94 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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2217.HK Signals & Forecast
The Tam Jai International Co. 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$1.04 and HK$0.99. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -1.83%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Tam Jai International Co. Limited stock
Tam Jai International Co. Limited finds support from accumulated volume at HK$1.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.0600 between high and low, or 5.71%. For the last week, the stock has had daily average volatility of 5.59%.
Our recommended stop-loss: HK$1.03 (-4.15%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (2217.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Tam Jai International Co. Limited to open at HK$1.08, and during the day (based on 14 day Average True Range), to move between HK$1.03 and HK$1.11, which gives a possible trading interval of +/-HK$0.0414 (+/-3.87%) up or down from last closing price. If Tam Jai International Co. Limited takes out the full calculated possible swing range there will be an estimated 7.74% 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$1.08 (0.93%) than the support at HK$1.05 (1.87%), 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 Tam Jai International Co. Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.311 Buy Candidate Upgraded
Predicted Opening Price for Tam Jai International Co. Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$1.08 ( 0.623%) | HK$1.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2217.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.14 | 6.23 % | |
| R2 | 1.11 | 4.09 % | ||
| R1 | 1.10 | 2.77 % | ||
| Current price: | 1.07 | |||
| Support | S1 | 1.05 | -1.52 % | |
| S2 | 1.04 | -2.84 % | ||
| S3 | 1.02 | -4.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.11 | 3.74 % | |
| R2 | 1.10 | 2.80 % | ||
| R1 | 1.08 | 0.93 % | ||
| Current price | 1.07 | |||
| Support | S1 | 1.05 | -1.87% | |
| S2 | 0.97 | -9.35% | ||
| S3 | 0.96 | -10.28% |
2217 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 27, 2023 | Nov 27, 2023 | Nov 27, 2023 | HK$0 | 0% |
| 2 | Aug 09, 2022 | Aug 09, 2022 | Aug 09, 2022 | HK$0.114 | 4.18% |
FAQ
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