C-MER Eye Care Holdings Limited Stock Forecast
Evaluation of C-MER Eye Care Holdings Limited stock downgraded after the last trading session.
(Updated on May 10, 2024)
The C-MER Eye Care Holdings Limited stock price fell by -1.58% on the last day (Friday, 10th May 2024) from HK$3.16 to HK$3.11. During the last trading day the stock fluctuated 2.90% from a day low at HK$3.10 to a day high of HK$3.19. The price has been going up and down for this period, and there has been a 6.87% gain for the last 2 weeks. 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 -386 thousand shares and in total, 1 million shares were bought and sold for approximately HK$3.45 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 C-MER Eye Care Holdings Limited stock with a 90% probability to be traded between HK$2.72 and HK$3.22 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
3309.HK Signals & Forecast
The C-MER Eye Care Holdings 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$3.07 and HK$2.91. 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 Thursday, May 09, 2024, and so far it has fallen -1.58%. 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 C-MER Eye Care Holdings Limited stock
C-MER Eye Care Holdings Limited finds support from accumulated volume at HK$2.99 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$0.0900 between high and low, or 2.90%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: HK$2.98 (-4.16%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 72 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (3309.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect C-MER Eye Care Holdings Limited to open at HK$3.13, and during the day (based on 14 day Average True Range), to move between HK$3.02 and HK$3.20, which gives a possible trading interval of +/-HK$0.0912 (+/-2.93%) up or down from last closing price. If C-MER Eye Care Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.86% 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$3.16 (1.61%) than the support at HK$2.99 (3.86%), 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 C-MER Eye Care Holdings Limited stock A Buy?
C-MER Eye Care Holdings 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.269 Hold/Accumulate Downgraded
Predicted Opening Price for C-MER Eye Care Holdings Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$3.13 ( 0.750%) | HK$3.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3309.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.22 | 3.64 % | |
| R2 | 3.19 | 2.54 % | ||
| R1 | 3.17 | 1.86 % | ||
| Current price: | 3.11 | |||
| Support | S1 | 3.10 | -0.355 % | |
| S2 | 3.08 | -1.04 % | ||
| S3 | 3.04 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.22 | 3.54 % | |
| R2 | 3.19 | 2.57 % | ||
| R1 | 3.16 | 1.61 % | ||
| Current price | 3.11 | |||
| Support | S1 | 2.99 | -3.86% | |
| S2 | 2.89 | -7.07% | ||
| S3 | 2.72 | -12.54% |
3309 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2021 | May 31, 2021 | May 31, 2021 | HK$0.0200 | 0.317% |
| 2 | Mar 31, 2020 | May 22, 2020 | Jun 22, 2020 | HK$0.0200 | 0.325% |
| 3 | Mar 26, 2019 | Jun 27, 2019 | Jul 15, 2019 | HK$0.0200 | 0.387% |
FAQ
Click here for our free guide on how to buy C-MER Eye Care Holdings Limited Stock.
