Binhai Investment Company Limited Stock Forecast
Red day on Thursday for Binhai Investment Company Limited
(Updated on Jun 20, 2024)
The Binhai Investment Company Limited stock price fell by -2.34% on the last day (Thursday, 20th Jun 2024) from HK$1.28 to HK$1.25. During the last trading day the stock fluctuated 6.45% from a day low at HK$1.24 to a day high of HK$1.32. The price has risen in 5 of the last 10 days but is still down by -3.85% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 1 million shares were bought and sold for approximately HK$1.69 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Binhai Investment Company Limited stock with a 90% probability to be traded between HK$1.14 and HK$1.33 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2886.HK Signals & Forecast
The Binhai Investment Company 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$1.24 and HK$1.21. 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). 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 Friday, June 07, 2024, and so far it has fallen -6.02%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Binhai Investment Company Limited stock
Binhai Investment Company Limited finds support from accumulated volume at HK$1.23 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$0.0800 between high and low, or 6.45%. For the last week, the stock has had daily average volatility of 4.73%.
Our recommended stop-loss: HK$1.19 (-5.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (2886.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Binhai Investment Company Limited to open at HK$1.27, and during the day (based on 14 day Average True Range), to move between HK$1.19 and HK$1.31, which gives a possible trading interval of +/-HK$0.0594 (+/-4.75%) up or down from last closing price. If Binhai Investment Company Limited takes out the full calculated possible swing range there will be an estimated 9.51% 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$1.23 (1.60%) than the resistance at HK$1.28 (2.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Binhai Investment Company Limited stock A Buy?
Binhai Investment Company 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: -0.640 Hold/Accumulate Unchanged
Predicted Opening Price for Binhai Investment Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$1.27 ( 1.60%) | HK$1.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2886.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.35 | 8.00% |
| R2 | 1.32 | 5.56% |
| R1 | 1.30 | 4.04% |
| Price | 1.25 | |
| S1 | 1.24 | -0.84% |
| S2 | 1.22 | -2.36% |
| S3 | 1.19 | -4.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.33 | 6.40% |
| R2 | 1.30 | 4.00% |
| R1 | 1.28 | 2.40% |
| Price | 1.25 | |
| S1 | 1.23 | -1.60% |
| S2 | 1.21 | -3.20% |
| S3 | 1.19 | -4.80% |
2886 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jun 17, 2024 | HK$0 | 0% |
| 2 | Jun 11, 2024 | Jun 11, 2024 | Jul 19, 2024 | HK$0.0760 | 6.08% |
| 3 | May 19, 2023 | May 19, 2023 | May 19, 2023 | HK$0.100 | 6.17% |
| 4 | May 17, 2023 | May 17, 2023 | May 17, 2023 | HK$0.100 | 6.17% |
| 5 | May 18, 2022 | May 18, 2022 | May 18, 2022 | HK$0.0900 | 6.08% |
FAQ
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