Yixin Group Limited Stock Forecast
Red day on Friday for Yixin Group Limited
(Updated on Apr 19, 2024)
The Yixin Group Limited stock price fell by -4.76% on the last day (Friday, 19th Apr 2024) from HK$0.630 to HK$0.600. During the last trading day the stock fluctuated 5.00% from a day low at HK$0.600 to a day high of HK$0.630. The price has fallen in 4 of the last 10 days and is down by -3.23% 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, 4 million shares were bought and sold for approximately HK$2.16 million.
Given the current short-term trend, the stock is expected to rise 32.56% during the next 3 months and, with a 90% probability hold a price between HK$0.795 and HK$1.06 at the end of this 3-month period.
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2858.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Yixin Group Limited 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$0.620 and HK$0.657. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -18.92%. 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). 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 Yixin Group Limited stock
Yixin Group Limited finds support from accumulated volume at HK$0.580 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$0.0300 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2858.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Yixin Group Limited to open at HK$0.610, and during the day (based on 14 day Average True Range), to move between HK$0.570 and HK$0.630, which gives a possible trading interval of +/-HK$0.0300 (+/-4.99%) up or down from last closing price. If Yixin Group Limited takes out the full calculated possible swing range there will be an estimated 9.99% 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$0.620 (3.33%) than the support at HK$0.580 (3.33%), 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 Yixin Group Limited stock A Buy?
The Yixin Group Limited stock holds several negative signals and despite the positive trend, we believe Yixin Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.590 Sell Candidate Unchanged
Predicted Opening Price for Yixin Group Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$0.610 ( 1.67%) | HK$0.600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2858.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.640 | 6.67 % | |
| R2 | 0.629 | 4.76 % | ||
| R1 | 0.621 | 3.58 % | ||
| Current price: | 0.600 | |||
| Support | S1 | 0.599 | -0.243 % | |
| S2 | 0.591 | -1.42 % | ||
| S3 | 0.580 | -3.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.660 | 10.00 % | |
| R2 | 0.650 | 8.33 % | ||
| R1 | 0.620 | 3.33 % | ||
| Current price | 0.600 | |||
| Support | S1 | 0.580 | -3.33% | |
| S2 | 0.510 | -15.00% | ||
| S3 | 0.485 | -19.17% |
2858 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | Jun 03, 2024 | HK$0.0300 | 4.92% |
| 2 | May 15, 2023 | May 15, 2023 | May 15, 2023 | HK$0.0130 | 1.46% |
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