HK Electric Investments and HK Electric Stock Forecast
Stronger technical forecast for HK Electric Investments and HK Electric stock price after Monday trading.
(Updated on May 06, 2024)
The HK Electric Investments and HK Electric stock price gained 0.637% on the last trading day (Monday, 6th May 2024), rising from HK$4.71 to HK$4.74. During the last trading day the stock fluctuated 1.06% from a day low at HK$4.71 to a day high of HK$4.76. The price has risen in 7 of the last 10 days and is up by 3.95% over the past 2 weeks. Volume fell on the last day by -158 thousand shares and in total, 2 million shares were bought and sold for approximately HK$10.93 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 -3.61% during the next 3 months and, with a 90% probability hold a price between HK$4.35 and HK$4.69 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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2638.HK Signals & Forecast
Mostly positive signals in the chart today. The HK Electric Investments and HK Electric stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$4.71 and HK$4.74. 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 4.18%. 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 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 HK Electric Investments and HK Electric stock
HK Electric Investments and HK Electric finds support from accumulated volume at HK$4.72 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$0.0500 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 1.07%.
Our recommended stop-loss: HK$4.52 (-4.58%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (2638.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect HK Electric Investments and HK Electric Investments Limited to open at HK$4.74, and during the day (based on 14 day Average True Range), to move between HK$4.69 and HK$4.79, which gives a possible trading interval of +/-HK$0.0535 (+/-1.13%) up or down from last closing price. If HK Electric Investments and HK Electric Investments Limited takes out the full calculated possible swing range there will be an estimated 2.26% 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$4.72 (0.42%) than the resistance at HK$4.80 (1.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HK Electric Investments and HK Electric Investments 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 Sell to a Buy candidate.
Current score: 2.577 Buy Candidate Upgraded
Predicted Opening Price for HK Electric Investments and HK Electric Investments Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$4.74 ( 0.0703%) | HK$4.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2638.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.79 | 0.98 % | |
| R2 | 4.77 | 0.582 % | ||
| R1 | 4.76 | 0.333 % | ||
| Current price: | 4.74 | |||
| Support | S1 | 4.72 | -0.473 % | |
| S2 | 4.71 | -0.722 % | ||
| S3 | 4.69 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.87 | 2.74 % | |
| R2 | 4.81 | 1.48 % | ||
| R1 | 4.80 | 1.27 % | ||
| Current price | 4.74 | |||
| Support | S1 | 4.72 | -0.422% | |
| S2 | 4.69 | -1.05% | ||
| S3 | 4.68 | -1.27% |
2638 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 17, 2024 | HK$0.161 | 3.51% |
| 2 | Mar 28, 2023 | Mar 28, 2023 | Mar 28, 2023 | HK$0.161 | 3.23% |
| 3 | Aug 16, 2022 | Aug 16, 2022 | Aug 16, 2022 | HK$0.159 | 2.28% |
| 4 | Mar 29, 2022 | Mar 29, 2022 | Mar 29, 2022 | HK$0.161 | 2.07% |
| 5 | Aug 17, 2021 | Aug 17, 2021 | Aug 17, 2021 | HK$0.159 | 2.04% |
FAQ
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