CECEP COSTIN New Materials Group Ltd Stock Forecast
CECEP COSTIN New Materials Group Ltd stock price down 2.21% on Thursday
(Updated on Jun 27, 2024)
The CECEP COSTIN New Materials Group Ltd stock price fell by -2.21% on the last day (Thursday, 27th Jun 2024) from HK$5.42 to HK$5.30. During the last trading day the stock fluctuated 2.84% from a day low at HK$5.29 to a day high of HK$5.44. The price has risen in 4 of the last 10 days but is still down by -8.62% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 1 million shares were bought and sold for approximately HK$5.63 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.15% during the next 3 months and, with a 90% probability hold a price between HK$4.98 and HK$5.23 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.
2228.HK Signals & Forecast
The CECEP COSTIN New Materials Group Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$5.34. On a fall, the stock will find some support from the long-term average at approximately HK$3.89. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -2.21%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CECEP COSTIN New Materials Group Ltd stock
CECEP COSTIN New Materials Group Ltd finds support from accumulated volume at HK$5.28 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$0.150 between high and low, or 2.84%. For the last week the stock has had daily average volatility of 3.62%.
Our recommended stop-loss: HK$5.03 (-5.17%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (2228.HK) For The Upcoming Trading Day Of Friday 28th
Since the stock is closer to the support from accumulated volume at HK$5.28 (0.38%) than the resistance at HK$5.35 (0.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CECEP COSTIN New Materials Group Ltd stock A Buy?
CECEP COSTIN New Materials Group Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CECEP COSTIN New Materials Group Ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$5.34 ( 0.82%) | HK$5.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2228.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.49 | 3.65% |
| R2 | 5.44 | 2.57% |
| R1 | 5.40 | 1.90% |
| Price | 5.30 | |
| S1 | 5.29 | -0.264% |
| S2 | 5.25 | -0.93% |
| S3 | 5.19 | -2.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.80 | 9.43% |
| R2 | 5.40 | 1.89% |
| R1 | 5.35 | 0.94% |
| Price | 5.30 | |
| S1 | 5.28 | -0.377% |
| S2 | 0 | - |
| S3 | 0 | - |
2228 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2016 | Jun 13, 2016 | Jun 13, 2016 | HK$0.0070 | 1.17% |
| 2 | Oct 16, 2015 | Oct 16, 2015 | Oct 16, 2015 | HK$0.0120 | 1.06% |
| 3 | Jun 11, 2015 | Jun 11, 2015 | Jun 11, 2015 | HK$0.0217 | 1.42% |
| 4 | Sep 30, 2014 | Sep 30, 2014 | Sep 30, 2014 | HK$0.0117 | 1.09% |
| 5 | May 13, 2014 | May 13, 2014 | May 13, 2014 | HK$0.0217 | 2.00% |
FAQ
Click here for our free guide on how to buy CECEP COSTIN New Materials Group Ltd Stock.
