BOC Aviation Limited Stock Forecast
BOC Aviation Limited stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The BOC Aviation Limited stock price gained 2.41% on the last trading day (Wednesday, 24th Apr 2024), rising from HK$62.20 to HK$63.70. During the last trading day the stock fluctuated 3.06% from a day low at HK$62.00 to a day high of HK$63.90. The price has been going up and down for this period, and there has been a -2.38% loss for the last 2 weeks. Volume fell on the last day by -101 thousand shares and in total, 432 thousand shares were bought and sold for approximately HK$27.51 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 wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.38% during the next 3 months and, with a 90% probability hold a price between HK$63.09 and HK$72.42 at the end of this 3-month period.
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2588.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -2.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The BOC Aviation 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$62.56 and HK$60.31. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for BOC Aviation Limited stock
BOC Aviation Limited finds support from accumulated volume at HK$61.00 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$1.90 between high and low, or 3.06%. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: HK$61.12 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (2588.HK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BOC Aviation Limited to open at HK$63.20, and during the day (based on 14 day Average True Range), to move between HK$61.73 and HK$65.67, which gives a possible trading interval of +/-HK$1.97 (+/-3.09%) up or down from last closing price. If BOC Aviation Limited takes out the full calculated possible swing range there will be an estimated 6.18% 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$64.40 (1.10%) than the support at HK$61.00 (4.24%), 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 BOC Aviation Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BOC Aviation Limited 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: 2.072 Buy Candidate Upgraded
Predicted Opening Price for BOC Aviation Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| HK$63.20 ( 0.785%) | HK$63.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2588.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.10 | 2.20 % | |
| R2 | 64.37 | 1.06 % | ||
| R1 | 63.93 | 0.354 % | ||
| Current price: | 63.70 | |||
| Support | S1 | 62.47 | -1.92 % | |
| S2 | 62.03 | -2.63 % | ||
| S3 | 61.30 | -3.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.25 | 2.43 % | |
| R2 | 64.70 | 1.57 % | ||
| R1 | 64.40 | 1.10 % | ||
| Current price | 63.70 | |||
| Support | S1 | 61.00 | -4.24% | |
| S2 | 59.00 | -7.38% | ||
| S3 | 58.90 | -7.54% |
2588 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 21, 2024 | HK$2.13 | 3.34% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | HK$1.39 | 2.48% |
| 3 | Sep 26, 2022 | Sep 26, 2022 | Sep 26, 2022 | HK$0.698 | 1.18% |
| 4 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | HK$1.36 | 2.22% |
| 5 | Sep 27, 2021 | Sep 27, 2021 | Sep 27, 2021 | HK$0.85 | 1.30% |
FAQ
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