Parkson Retail Group Limited Stock Forecast
Red day on Thursday for Parkson Retail Group Limited stock after losing 1.75%
(Updated on Jun 20, 2024)
The Parkson Retail Group Limited stock price fell by -1.75% on the last day (Thursday, 20th Jun 2024) from HK$0.114 to HK$0.112. During the last trading day the stock fluctuated 1.82% from a day low at HK$0.110 to a day high of HK$0.112. The price has been going up and down for this period, and there has been a 1.82% 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 -823 thousand shares and in total, 258 thousand shares were bought and sold for approximately HK$28.90 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$0.109 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Parkson Retail Group Limited stock with a 90% probability to be traded between HK$0.108 and HK$0.126 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.
3368.HK Signals & Forecast
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. The Parkson Retail Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.116 and HK$0.120. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -6.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should go up by 25.77% to HK$0.141 within 28 trading days since signal was issued (Wednesday, July 17, 2024).
Support, Risk & Stop-loss for Parkson Retail Group Limited stock
Parkson Retail Group Limited finds support from accumulated volume at HK$0.111 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0020 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 4.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3368.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Parkson Retail Group Limited to open at HK$0.111, and during the day (based on 14 day Average True Range), to move between HK$0.106 and HK$0.118, which gives a possible trading interval of +/-HK$0.0065 (+/-5.78%) up or down from last closing price. If Parkson Retail Group Limited takes out the full calculated possible swing range there will be an estimated 11.56% 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$0.111 (0.89%) than the resistance at HK$0.115 (2.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Parkson Retail Group Limited stock A Buy?
Parkson Retail Group Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.833 Sell Candidate Unchanged
Predicted Opening Price for Parkson Retail Group Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.111 ( 0.595%) | HK$0.112 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3368.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.113 | 1.19% |
| R2 | 0.113 | 0.508% |
| R1 | 0.112 | 0.0869% |
| Price | 0.112 | |
| S1 | 0.111 | -1.28% |
| S2 | 0.110 | -1.70% |
| S3 | 0.109 | -2.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.122 | 8.93% |
| R2 | 0.117 | 4.46% |
| R1 | 0.115 | 2.68% |
| Price | 0.112 | |
| S1 | 0.111 | -0.89% |
| S2 | 0.110 | -1.79% |
| S3 | 0 | - |
3368 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 04, 2023 | Sep 04, 2023 | Sep 04, 2023 | HK$0.0109 | 8.13% |
| 2 | Sep 01, 2023 | Sep 01, 2023 | Sep 20, 2023 | HK$0.0117 | 9.17% |
| 3 | Nov 20, 2018 | Dec 03, 2018 | Dec 20, 2018 | HK$0.0342 | 5.99% |
| 4 | Feb 20, 2017 | Mar 03, 2017 | Mar 31, 2017 | HK$0.0225 | 2.32% |
| 5 | Feb 23, 2016 | May 25, 2016 | Jun 30, 2016 | HK$0.0118 | 1.73% |
FAQ
Click here for our free guide on how to buy Parkson Retail Group Limited Stock.
