Lee and Man Paper Manufacturing Limited Stock Forecast
Green day on Friday for Lee and Man Paper Manufacturing Limited stock after gaining 4.38%
(Updated on May 10, 2024)
The Lee and Man Paper Manufacturing Limited stock price gained 4.38% on the last trading day (Friday, 10th May 2024), rising from HK$2.51 to HK$2.62. During the last trading day the stock fluctuated 8.84% from a day low at HK$2.49 to a day high of HK$2.71. The price has risen in 7 of the last 10 days and is up by 13.91% 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, 4 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately HK$43.61 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$2.63 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.12% during the next 3 months and, with a 90% probability hold a price between HK$2.60 and HK$2.89 at the end of this 3-month period.
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2314.HK Signals & Forecast
Mostly positive signals in the chart today. The Lee and Man Paper Manufacturing 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$2.47 and HK$2.40. 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 14.41%. 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 Lee and Man Paper Manufacturing Limited stock
Lee and Man Paper Manufacturing Limited finds support from accumulated volume at HK$2.51 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$0.220 between high and low, or 8.84%. For the last week, the stock has had daily average volatility of 5.10%.
Our recommended stop-loss: HK$2.50 (-4.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (2314.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Lee and Man Paper Manufacturing Limited to open at HK$2.61, and during the day (based on 14 day Average True Range), to move between HK$2.52 and HK$2.72, which gives a possible trading interval of +/-HK$0.0986 (+/-3.76%) up or down from last closing price. If Lee and Man Paper Manufacturing Limited takes out the full calculated possible swing range there will be an estimated 7.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$2.51, some HK$0.110 (4.20%) from the current price of HK$2.62, our system finds the risk reward attractive.
Is Lee and Man Paper Manufacturing Limited stock A Buy?
Lee and Man Paper Manufacturing 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.
Current score: 8.167 Strong Buy Candidate Unchanged
Predicted Opening Price for Lee and Man Paper Manufacturing Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$2.61 ( 0.509%) | HK$2.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2314.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.83 | 7.89 % | |
| R2 | 2.74 | 4.68 % | ||
| R1 | 2.69 | 2.70 % | ||
| Current price: | 2.62 | |||
| Support | S1 | 2.52 | -3.72 % | |
| S2 | 2.47 | -5.70 % | ||
| S3 | 2.39 | -8.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.62 | |||
| Support | S1 | 2.51 | -4.20% | |
| S2 | 2.42 | -7.63% | ||
| S3 | 2.40 | -8.40% |
2314 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | Jun 05, 2024 | HK$0.0610 | 2.33% |
| 2 | May 11, 2023 | May 11, 2023 | May 11, 2023 | HK$0.0330 | 1.08% |
| 3 | Aug 19, 2022 | Aug 19, 2022 | Aug 19, 2022 | HK$0.0650 | 2.12% |
| 4 | May 16, 2022 | May 16, 2022 | May 16, 2022 | HK$0.110 | 3.07% |
| 5 | Aug 17, 2021 | Aug 17, 2021 | Aug 17, 2021 | HK$0.150 | 2.30% |
FAQ
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