Chervon Holdings Limited Stock Forecast
Chervon Holdings Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Chervon Holdings Limited stock price gained 1.56% on the last trading day (Friday, 28th Jun 2024), rising from HK$17.92 to HK$18.20. During the last trading day the stock fluctuated 8.44% from a day low at HK$17.06 to a day high of HK$18.50. The price has fallen in 6 of the last 10 days and is down by -11% for this period. Volume fell on the last day by -2 million shares and in total, 438 thousand shares were bought and sold for approximately HK$7.97 million. 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 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 -26.60% during the next 3 months and, with a 90% probability hold a price between HK$12.79 and HK$13.69 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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2285.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 1.56%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chervon Holdings Limited 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$18.51 and HK$20.91. 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).
Support, Risk & Stop-loss for Chervon Holdings Limited stock
Chervon Holdings Limited finds support from accumulated volume at HK$17.92 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$1.44 between high and low, or 8.44%. For the last week, the stock has had daily average volatility of 6.63%.
Our recommended stop-loss: HK$17.18 (-5.60%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (2285.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Chervon Holdings Limited to open at HK$17.92, and during the day (based on 14 day Average True Range), to move between HK$16.90 and HK$19.50, which gives a possible trading interval of +/-HK$1.30 (+/-7.13%) up or down from last closing price. If Chervon Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.26% 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$17.92 (1.54%) than the resistance at HK$19.26 (5.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chervon Holdings Limited stock A Buy?
Chervon Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.408 Hold/Accumulate Upgraded
Predicted Opening Price for Chervon Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$17.92 ( 1.54%) | HK$18.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2285.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.36 | 6.37% |
| R2 | 18.81 | 3.35% |
| R1 | 18.47 | 1.48% |
| Price | 18.20 | |
| S1 | 17.37 | -4.56% |
| S2 | 17.03 | -6.43% |
| S3 | 16.48 | -9.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.45 | 12.36% |
| R2 | 19.56 | 7.47% |
| R1 | 19.26 | 5.82% |
| Price | 18.20 | |
| S1 | 17.92 | -1.54% |
| S2 | 0 | - |
| S3 | 0 | - |
2285 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jul 16, 2024 | HK$0.276 | 1.52% |
| 2 | Jun 06, 2023 | Jun 06, 2023 | Jul 14, 2023 | HK$0.560 | 1.73% |
| 3 | Jun 24, 2022 | Jun 24, 2022 | Jul 15, 2022 | HK$0.558 | 1.47% |
FAQ
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