Lonking Holdings Limited Stock Forecast
Lonking Holdings Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The Lonking Holdings Limited stock price gained 3.33% on the last trading day (Friday, 10th May 2024), rising from HK$1.50 to HK$1.55. During the last trading day the stock fluctuated 4.70% from a day low at HK$1.49 to a day high of HK$1.56. The price has risen in 6 of the last 10 days and is up by 7.64% 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, 11 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately HK$26.98 million.
The stock lies in the upper part of a 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$1.56 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 16.49% during the next 3 months and, with a 90% probability hold a price between HK$1.58 and HK$1.81 at the end of this 3-month period.
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3339.HK Signals & Forecast
The Lonking 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$1.49 and HK$1.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 23.02%. 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 Lonking Holdings Limited stock
Lonking Holdings Limited finds support from accumulated volume at HK$1.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0700 (4.70%) between high and low. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: HK$1.49 (-3.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (3339.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Lonking Holdings Limited to open at HK$1.53, and during the day (based on 14 day Average True Range), to move between HK$1.50 and HK$1.60, which gives a possible trading interval of +/-HK$0.0525 (+/-3.39%) up or down from last closing price. If Lonking Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1.54, some HK$0.0100 (0.65%) from the current price of HK$1.55, our system finds the risk reward attractive.
Is Lonking Holdings Limited stock A Buy?
Lonking Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.103 Strong Buy Candidate Upgraded
Predicted Opening Price for Lonking Holdings Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$1.53 ( 1.08%) | HK$1.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3339.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.60 | 3.44 % | |
| R2 | 1.58 | 1.72 % | ||
| R1 | 1.56 | 0.650 % | ||
| Current price: | 1.55 | |||
| Support | S1 | 1.51 | -2.80 % | |
| S2 | 1.49 | -3.87 % | ||
| S3 | 1.46 | -5.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.55 | |||
| Support | S1 | 1.54 | -0.645% | |
| S2 | 1.36 | -12.26% | ||
| S3 | 1.32 | -14.84% |
3339 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jul 31, 2024 | HK$0.0800 | 5.16% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | HK$0.100 | 8.47% |
| 3 | May 30, 2022 | May 30, 2022 | May 30, 2022 | HK$0.220 | 10.89% |
| 4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | HK$0.330 | 11.70% |
| 5 | Mar 26, 2020 | Jun 01, 2020 | Jun 01, 2020 | HK$0.250 | 10.33% |
FAQ
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