Binhai Investment Company Limited Stock Forecast
Stronger technical forecast for Binhai Investment Company Limited stock price after Friday trading.
(Updated on Jun 28, 2024)
The Binhai Investment Company Limited stock price gained 0.82% on the last trading day (Friday, 28th Jun 2024), rising from HK$1.22 to HK$1.23. During the last trading day the stock fluctuated 1.65% from a day low at HK$1.21 to a day high of HK$1.23. The price has fallen in 5 of the last 10 days and is down by -3.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 238 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$2.50 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$1.20 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 5.31% during the next 3 months and, with a 90% probability hold a price between HK$1.27 and HK$1.42 at the end of this 3-month period.
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2886.HK Signals & Forecast
The Binhai Investment Company Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$1.24. On a fall, the stock will find some support from the long-term average at approximately HK$1.22. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 3.36%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Binhai Investment Company Limited stock
Binhai Investment Company Limited finds support from accumulated volume at HK$1.19 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$0.0200 between high and low, or 1.65%. For the last week, the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: HK$1.16 (-5.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (2886.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Binhai Investment Company Limited to open at HK$1.22, and during the day (based on 14 day Average True Range), to move between HK$1.18 and HK$1.28, which gives a possible trading interval of +/-HK$0.0472 (+/-3.84%) 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 7.68% 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$1.24 (0.81%) than the support at HK$1.19 (3.25%), 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 Binhai Investment Company Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Binhai Investment Company Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.282 Buy Candidate Upgraded
Predicted Opening Price for Binhai Investment Company Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$1.22 ( 0.542%) | HK$1.23 |
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 | 1.24 | 1.08% |
| R2 | 1.24 | 0.463% |
| R1 | 1.23 | 0.0791% |
| Price | 1.23 | |
| S1 | 1.22 | -1.16% |
| S2 | 1.21 | -1.55% |
| S3 | 1.20 | -2.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.33 | 8.13% |
| R2 | 1.28 | 4.07% |
| R1 | 1.24 | 0.81% |
| Price | 1.23 | |
| S1 | 1.19 | -3.25% |
| S2 | 1.18 | -4.07% |
| S3 | 1.17 | -4.88% |
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 | 6.18% |
| 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% |
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