China Overseas Property Holdings Limited Stock Forecast
China Overseas Property Holdings Limited stock price up 2.61% on Friday
(Updated on May 03, 2024)
The China Overseas Property Holdings Limited stock price gained 2.61% on the last trading day (Friday, 3rd May 2024), rising from HK$4.99 to HK$5.12. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.43% from a day low at HK$4.97 to a day high of HK$5.19. The price has risen in 8 of the last 10 days and is up by 22.78% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 5 million shares were bought and sold for approximately HK$27.03 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 the upper part of a very wide and falling 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$5.19 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -27.63% during the next 3 months and, with a 90% probability hold a price between HK$2.61 and HK$3.75 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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2669.HK Signals & Forecast
Mostly positive signals in the chart today. The China Overseas Property Holdings Limited 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$4.69 and HK$4.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 26.42%. 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 China Overseas Property Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.50 and HK$4.27. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Overseas Property Holdings Limited finds support just below today's level at HK$4.50. If this is broken, then the next support from accumulated volume will be at HK$4.27 and HK$4.23.
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 4.43%. For the last week, the stock has had daily average volatility of 6.54%.
The China Overseas Property Holdings Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the China Overseas Property Holdings Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: HK$4.97 (-2.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (2669.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Overseas Property Holdings Limited to open at HK$5.09, and during the day (based on 14 day Average True Range), to move between HK$4.85 and HK$5.39, which gives a possible trading interval of +/-HK$0.272 (+/-5.31%) up or down from last closing price. If China Overseas Property Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.62% 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$4.50 (12.11%) than the resistance at HK$6.01 (17.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Overseas Property Holdings 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.
Current score: 1.620 Buy Candidate Unchanged
Predicted Opening Price for China Overseas Property Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$5.09 ( 0.521%) | HK$5.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2669.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.31 | 3.78 % | |
| R2 | 5.23 | 2.13 % | ||
| R1 | 5.18 | 1.12 % | ||
| Current price: | 5.12 | |||
| Support | S1 | 5.01 | -2.16 % | |
| S2 | 4.96 | -3.18 % | ||
| S3 | 4.87 | -4.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.31 | 23.24 % | |
| R2 | 6.29 | 22.85 % | ||
| R1 | 6.01 | 17.38 % | ||
| Current price | 5.12 | |||
| Support | S1 | 4.50 | -12.11% | |
| S2 | 4.27 | -16.60% | ||
| S3 | 4.23 | -17.38% |
2669 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 24, 2024 | Jun 24, 2024 | Jul 15, 2024 | HK$0.0850 | 1.66% |
| 2 | Jun 23, 2023 | Jun 23, 2023 | Jun 23, 2023 | HK$0.0800 | 1.04% |
| 3 | Sep 26, 2022 | Sep 26, 2022 | Sep 26, 2022 | HK$0.0400 | 0.532% |
| 4 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | HK$0.0600 | 0.710% |
| 5 | Sep 10, 2021 | Sep 10, 2021 | Sep 10, 2021 | HK$0.0300 | 0.465% |
FAQ
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