China Overseas Property Holdings Limited Stock Forecast

China Overseas Property Holdings Limited stock price up more than 5.22% on Friday
(Updated on May 17, 2024)

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. 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$5.35 and HK$4.67. 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 49.38%. 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

China Overseas Property Holdings Limited finds support from accumulated volume at HK$5.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.410 between high and low, or 7.18%. For the last week, the stock has had daily average volatility of 7.46%.

The China Overseas Property Holdings Limited stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$5.88 (-2.86%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (2669.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect China Overseas Property Holdings Limited to open at HK$5.96, and during the day (based on 14 day Average True Range), to move between HK$5.73 and HK$6.37, which gives a possible trading interval of +/-HK$0.317 (+/-5.25%) 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 10.50% 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$5.75 (4.96%) than the resistance at HK$6.40 (5.79%), 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?

China Overseas Property Holdings Limited holds several positive signals and the break up from the falling trend indicates a possible shift of trend as well. The trend doesn't have to go from falling to rising, it may as well go horizontal or even just decrease the earlier fall rate, but we find the risk-reward to be attractive and expect the stock to perform very well in the short term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.500 Strong Buy Candidate Upgraded

Predicted Opening Price for China Overseas Property Holdings Limited of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.