Jutal Offshore Oil Services Limited Stock Forecast
Jutal Offshore Oil Services Limited stock price down 1.35% on Thursday
(Updated on May 16, 2024)
The Jutal Offshore Oil Services Limited stock price fell by -1.35% on the last day (Thursday, 16th May 2024) from HK$0.740 to HK$0.730. During the last trading day the stock fluctuated 6.94% from a day low at HK$0.720 to a day high of HK$0.770. The price has been going up and down for this period, and there has been a 4.29% gain for the last 2 weeks. Volume has increased on the last day by 71 thousand 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, 2 million shares were bought and sold for approximately HK$1.26 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$0.758 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 40.86% during the next 3 months and, with a 90% probability hold a price between HK$0.83 and HK$1.07 at the end of this 3-month period.
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3303.HK Signals & Forecast
The Jutal Offshore Oil Services 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$0.706 and HK$0.610. 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 Monday, May 13, 2024, and so far it has fallen -2.67%. Further fall is indicated until a new bottom pivot has been found. Jutal Offshore Oil Services Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Jutal Offshore Oil Services Limited stock
Jutal Offshore Oil Services Limited finds support from accumulated volume at HK$0.710 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0500 between high and low, or 6.94%. For the last week, the stock has had daily average volatility of 7.12%.
Our recommended stop-loss: HK$0.703 (-3.70%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (3303.HK) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Jutal Offshore Oil Services Limited to open at HK$0.740, and during the day (based on 14 day Average True Range), to move between HK$0.685 and HK$0.775, which gives a possible trading interval of +/-HK$0.0454 (+/-6.22%) up or down from last closing price. If Jutal Offshore Oil Services Limited takes out the full calculated possible swing range there will be an estimated 12.44% 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$0.740 (1.37%) than the support at HK$0.710 (2.74%), 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 Jutal Offshore Oil Services 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 Jutal Offshore Oil Services Limited stock to perform well in the short-term.
Current score: 2.319 Buy Candidate Unchanged
Predicted Opening Price for Jutal Offshore Oil Services Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| HK$0.740 ( 1.37%) | HK$0.730 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3303.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.790 | 8.22 % | |
| R2 | 0.771 | 5.60 % | ||
| R1 | 0.759 | 3.99 % | ||
| Current price: | 0.730 | |||
| Support | S1 | 0.721 | -1.25 % | |
| S2 | 0.709 | -2.86 % | ||
| S3 | 0.690 | -5.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.750 | 2.74 % | ||
| R1 | 0.740 | 1.37 % | ||
| Current price | 0.730 | |||
| Support | S1 | 0.710 | -2.74% | |
| S2 | 0.700 | -4.11% | ||
| S3 | 0.620 | -15.07% |
3303 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | HK$0.220 | 15.94% |
| 2 | May 26, 2021 | May 26, 2021 | May 26, 2021 | HK$0.220 | 16.67% |
| 3 | Jan 14, 2021 | Jan 14, 2021 | Jan 14, 2021 | HK$0.150 | 21.74% |
| 4 | Mar 29, 2019 | Jul 03, 2019 | Jul 26, 2019 | HK$0.0200 | 2.41% |
| 5 | Mar 23, 2018 | Jun 12, 2018 | Jul 06, 2018 | HK$0.0300 | 1.84% |
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