Logan Group Company Limited Stock Forecast
Weaker technical forecast for Logan Group Company Limited as stock downgraded to Buy Candidate.
(Updated on Jun 27, 2024)
The Logan Group Company Limited stock price gained 2.63% on the last trading day (Thursday, 27th Jun 2024), rising from HK$0.760 to HK$0.780. During the last trading day the stock fluctuated 3.95% from a day low at HK$0.760 to a day high of HK$0.790. The price has risen in 6 of the last 10 days and is up by 23.81% over the past 2 weeks. Volume fell on the last day by -89 thousand shares and in total, 14 million shares were bought and sold for approximately HK$11.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.87% during the next 3 months and, with a 90% probability hold a price between HK$0.82 and HK$1.20 at the end of this 3-month period.
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3380.HK Signals & Forecast
The Logan Group Company 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$0.730 and HK$0.699. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, May 17, 2024, and so far it has fallen -6.02%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Logan Group Company Limited stock
Logan Group Company Limited finds support from accumulated volume at HK$0.760 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$0.0300 between high and low, or 3.95%. For the last week, the stock has had daily average volatility of 6.62%.
Our recommended stop-loss: HK$0.742 (-4.82%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (3380.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Logan Group Company Limited to open at HK$0.777, and during the day (based on 14 day Average True Range), to move between HK$0.738 and HK$0.82, which gives a possible trading interval of +/-HK$0.0418 (+/-5.36%) up or down from last closing price. If Logan Group Company Limited takes out the full calculated possible swing range there will be an estimated 10.72% 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$0.760 (2.56%) than the resistance at HK$0.83 (6.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Logan Group 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 Logan Group Company Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.777 Buy Candidate Downgraded
Predicted Opening Price for Logan Group Company Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$0.777 ( 0.427%) | HK$0.780 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3380.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.81 | 3.42% |
| R2 | 0.795 | 1.95% |
| R1 | 0.788 | 1.04% |
| Price | 0.780 | |
| S1 | 0.765 | -1.90% |
| S2 | 0.758 | -2.80% |
| S3 | 0.747 | -4.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.83 | 6.41% |
| Price | 0.780 | |
| S1 | 0.760 | -2.56% |
| S2 | 0.680 | -12.82% |
| S3 | 0.610 | -21.79% |
3380 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 12, 2021 | Nov 12, 2021 | Nov 12, 2021 | HK$0.490 | 6.15% |
| 2 | Jul 02, 2021 | Jul 02, 2021 | Jul 02, 2021 | HK$0.580 | 5.28% |
| 3 | Nov 12, 2020 | Nov 12, 2020 | Nov 12, 2020 | HK$0.430 | 3.35% |
| 4 | Mar 27, 2020 | Jul 02, 2020 | Jul 17, 2020 | HK$0.450 | 3.26% |
| 5 | Aug 26, 2019 | Nov 14, 2019 | Nov 29, 2019 | HK$0.380 | 3.32% |
FAQ
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