Yixin Group Limited Stock Forecast
Yixin Group Limited stock price up 2.99% on Thursday
(Updated on May 02, 2024)
The Yixin Group Limited stock price gained 2.99% on the last trading day (Thursday, 2nd May 2024), rising from HK$0.670 to HK$0.690. During the last trading day the stock fluctuated 7.58% from a day low at HK$0.660 to a day high of HK$0.710. The price has risen in 7 of the last 10 days and is up by 13.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$6.53 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.15% during the next 3 months and, with a 90% probability hold a price between HK$0.718 and HK$0.94 at the end of this 3-month period.
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2858.HK Signals & Forecast
The Yixin Group 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$0.654 and HK$0.662. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -6.76%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Yixin Group Limited stock
Yixin Group Limited finds support from accumulated volume at HK$0.660 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$0.0500 between high and low, or 7.58%. For the last week, the stock has had daily average volatility of 6.25%.
Our recommended stop-loss: HK$0.659 (-4.47%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (2858.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Yixin Group Limited to open at HK$0.687, and during the day (based on 14 day Average True Range), to move between HK$0.658 and HK$0.722, which gives a possible trading interval of +/-HK$0.0324 (+/-4.69%) up or down from last closing price. If Yixin Group Limited takes out the full calculated possible swing range there will be an estimated 9.38% 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$0.700 (1.45%) than the support at HK$0.660 (4.35%), 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.
Earnings coming up
Yixin Group Limited will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Yixin Group Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.91% in the first trading day after earnings release.
Is Yixin Group Limited stock A Buy?
Yixin Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.468 Hold/Accumulate Unchanged
Predicted Opening Price for Yixin Group Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$0.687 ( 0.483%) | HK$0.690 |
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 | 0.737 | 6.76 % | |
| R2 | 0.718 | 4.00 % | ||
| R1 | 0.706 | 2.29 % | ||
| Current price: | 0.690 | |||
| Support | S1 | 0.668 | -3.25 % | |
| S2 | 0.656 | -4.96 % | ||
| S3 | 0.637 | -7.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.740 | 7.25 % | |
| R2 | 0.730 | 5.80 % | ||
| R1 | 0.700 | 1.45 % | ||
| Current price | 0.690 | |||
| Support | S1 | 0.660 | -4.35% | |
| S2 | 0.650 | -5.80% | ||
| S3 | 0.620 | -10.14% |
2858 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | Jun 03, 2024 | HK$0.0300 | 4.35% |
| 2 | May 15, 2023 | May 15, 2023 | May 15, 2023 | HK$0.0130 | 1.46% |
FAQ
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