Genertec Universal Medical Group Co Ltd Stock Forecast
Genertec Universal Medical Group Co Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Genertec Universal Medical Group Co Ltd stock price fell by -1.14% on the last day (Friday, 14th Jun 2024) from HK$4.38 to HK$4.33. During the last trading day the stock fluctuated 5.35% from a day low at HK$4.30 to a day high of HK$4.53. The price has been going up and down for this period, and there has been a -3.78% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 16 million shares were bought and sold for approximately HK$68.02 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$4.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.98% during the next 3 months and, with a 90% probability hold a price between HK$4.47 and HK$5.64 at the end of this 3-month period.
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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 3.84%. Further rise is indicated until a new top pivot has been found. 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$4.44 and HK$4.72. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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$4.27 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$0.230 between high and low, or 5.35%. For the last week, the stock has had daily average volatility of 4.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2666.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Genertec Universal Medical Group Company Limited to open at HK$4.39, and during the day (based on 14 day Average True Range), to move between HK$4.17 and HK$4.49, which gives a possible trading interval of +/-HK$0.163 (+/-3.76%) 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 7.53% 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$4.38 (1.15%) than the support at HK$4.27 (1.39%), 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 Genertec Universal Medical Group Company Limited stock A Buy?
The Genertec Universal Medical Group Co Ltd stock holds several negative signals and despite the positive trend, we believe Genertec Universal Medical Group Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.189 Sell Candidate Downgraded
Predicted Opening Price for Genertec Universal Medical Group Company Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$4.39 ( 1.31%) | HK$4.33 |
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 | 4.62 | 6.62% |
| R2 | 4.53 | 4.59% |
| R1 | 4.47 | 3.34% |
| Price | 4.33 | |
| S1 | 4.30 | -0.720% |
| S2 | 4.24 | -1.97% |
| S3 | 4.16 | -4.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.77 | 10.16% |
| R2 | 4.50 | 3.93% |
| R1 | 4.38 | 1.15% |
| Price | 4.33 | |
| S1 | 4.27 | -1.39% |
| S2 | 4.26 | -1.62% |
| S3 | 4.17 | -3.70% |
2666 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jul 30, 2024 | HK$0.350 | 8.08% |
| 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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