China Huarong Asset Management Co., Ltd. Stock Forecast
Green day on Tuesday for China Huarong Asset Management Co., Ltd.
(Updated on Jun 18, 2024)
The China Huarong Asset Management Co., Ltd. stock price gained 1.39% on the last trading day (Tuesday, 18th Jun 2024), rising from HK$0.360 to HK$0.365. During the last trading day the stock fluctuated 2.82% from a day low at HK$0.355 to a day high of HK$0.365. The price has been going up and down for this period, and there has been a -3.95% loss for the last 2 weeks. Volume fell on the last day by -21 million shares and in total, 8 million shares were bought and sold for approximately HK$3.05 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.359 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 36.82% during the next 3 months and, with a 90% probability hold a price between HK$0.491 and HK$0.542 at the end of this 3-month period.
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2799.HK Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Huarong Asset Management 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$0.369 and HK$0.373. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -5.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for China Huarong Asset Management Co., Ltd. stock
China Huarong Asset Management Co., Ltd. finds support from accumulated volume at HK$0.360 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0100 (2.82%) between high and low. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2799.HK) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect China Huarong Asset Management Co., Ltd. to open at HK$0.362, and during the day (based on 14 day Average True Range), to move between HK$0.353 and HK$0.377, which gives a possible trading interval of +/-HK$0.0123 (+/-3.38%) up or down from last closing price. If China Huarong Asset Management Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.76% 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$0.360 (1.37%) than the resistance at HK$0.375 (2.74%), 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 Huarong Asset Management Co., Ltd. stock A Buy?
The China Huarong Asset Management Co., Ltd. stock holds several negative signals and despite the positive trend, we believe China Huarong Asset Management Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.406 Sell Candidate Unchanged
Predicted Opening Price for China Huarong Asset Management Co., Ltd. of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| HK$0.362 ( 0.91%) | HK$0.365 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2799.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.372 | 1.83% |
| R2 | 0.368 | 0.780% |
| R1 | 0.365 | 0.133% |
| Price | 0.365 | |
| S1 | 0.358 | -1.96% |
| S2 | 0.355 | -2.61% |
| S3 | 0.352 | -3.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.385 | 5.48% |
| R2 | 0.380 | 4.11% |
| R1 | 0.375 | 2.74% |
| Price | 0.365 | |
| S1 | 0.360 | -1.37% |
| S2 | 0.355 | -2.74% |
| S3 | 0.350 | -4.11% |
2799 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2020 | Jul 03, 2020 | Aug 31, 2020 | HK$0.0110 | 1.24% |
| 2 | Mar 28, 2019 | Jun 25, 2019 | Aug 22, 2019 | HK$0.0121 | 1.06% |
| 3 | Mar 20, 2018 | Apr 11, 2018 | May 21, 2018 | HK$0.169 | 6.05% |
| 4 | Mar 15, 2017 | May 16, 2017 | Aug 25, 2017 | HK$0.170 | 5.05% |
FAQ
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