Genertec Universal Medical Group Co Ltd Stock Forecast
Genertec Universal Medical Group Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Jun 20, 2024)
The Genertec Universal Medical Group Co Ltd stock price fell by -1.83% on the last day (Thursday, 20th Jun 2024) from HK$4.36 to HK$4.28. During the last trading day the stock fluctuated 3.29% from a day low at HK$4.25 to a day high of HK$4.39. The price has risen in 6 of the last 10 days but is still down by -5.31% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately HK$31.07 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$4.18 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Genertec Universal Medical Group Co Ltd stock with a 90% probability to be traded between HK$4.23 and HK$5.24 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2666.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 2.64%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Genertec Universal Medical Group Co Ltd 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$4.29 and HK$4.67. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Genertec Universal Medical Group Co Ltd stock
Genertec Universal Medical Group Co Ltd finds support from accumulated volume at HK$4.26 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$0.140 between high and low, or 3.29%. For the last week, the stock has had daily average volatility of 3.67%.
Our recommended stop-loss: HK$4.07 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (2666.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Genertec Universal Medical Group Company Limited to open at HK$4.31, and during the day (based on 14 day Average True Range), to move between HK$4.12 and HK$4.44, which gives a possible trading interval of +/-HK$0.157 (+/-3.67%) up or down from last closing price. If Genertec Universal Medical Group Company Limited takes out the full calculated possible swing range there will be an estimated 7.34% 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$4.26 (0.47%) than the resistance at HK$4.38 (2.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Genertec Universal Medical Group Company Limited stock A Buy?
Genertec Universal Medical Group Co Ltd 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: -0.760 Hold/Accumulate Upgraded
Predicted Opening Price for Genertec Universal Medical Group Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$4.31 ( 0.623%) | HK$4.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2666.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.45 | 3.89% |
| R2 | 4.39 | 2.64% |
| R1 | 4.36 | 1.87% |
| Price | 4.28 | |
| S1 | 4.25 | -0.626% |
| S2 | 4.22 | -1.40% |
| S3 | 4.17 | -2.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.77 | 11.45% |
| R2 | 4.50 | 5.14% |
| R1 | 4.38 | 2.34% |
| Price | 4.28 | |
| S1 | 4.26 | -0.467% |
| S2 | 4.22 | -1.40% |
| S3 | 4.17 | -2.57% |
2666 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jul 30, 2024 | HK$0.350 | 8.18% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | HK$0.340 | 7.56% |
| 3 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | HK$0.360 | 7.55% |
| 4 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | HK$0.310 | 4.34% |
| 5 | Mar 24, 2020 | Jun 11, 2020 | Jun 29, 2020 | HK$0.290 | 6.26% |
FAQ
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