Tianjin Port Development Holdings Ltd Stock Forecast
Tianjin Port Development Holdings Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 10, 2024)
The Tianjin Port Development Holdings Ltd stock price gained 3.17% on the last trading day (Friday, 10th May 2024), rising from HK$0.630 to HK$0.650. During the last trading day the stock fluctuated 4.84% from a day low at HK$0.620 to a day high of HK$0.650. The price has risen in 5 of the last 10 days and is up by 12.07% 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, 270 thousand more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately HK$3.79 million.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$0.630, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.676 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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3382.HK Signals & Forecast
The Tianjin Port Development Holdings Ltd 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$0.630 and HK$0.572. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 20.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Tianjin Port Development Holdings Ltd stock
Tianjin Port Development Holdings Ltd finds support from accumulated volume at HK$0.630 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 4.84%. For the last week, the stock has had daily average volatility of 3.24%.
The Tianjin Port Development Holdings Ltd stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: HK$0.623 (-4.08%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (3382.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Tianjin Port Development Holdings Limited to open at HK$0.640, and during the day (based on 14 day Average True Range), to move between HK$0.631 and HK$0.669, which gives a possible trading interval of +/-HK$0.0187 (+/-2.88%) up or down from last closing price. If Tianjin Port Development Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.630, some HK$0.0200 (3.08%) from the current price of HK$0.650, our system finds the risk reward attractive.
Is Tianjin Port Development Holdings Limited stock A Buy?
Tianjin Port Development Holdings Ltd 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Tianjin Port Development Holdings Limited of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
HK$0.640 ( 1.54%) | HK$0.650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3382.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.670 | 3.08 % | |
R2 | 0.659 | 1.31 % | ||
R1 | 0.651 | 0.225 % | ||
Current price: | 0.650 | |||
Support | S1 | 0.629 | -3.30 % | |
S2 | 0.621 | -4.39 % | ||
S3 | 0.610 | -6.15 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.650 | |||
Support | S1 | 0.630 | -3.08% | |
S2 | 0.620 | -4.62% | ||
S3 | 0.530 | -18.46% |
3382 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 21, 2024 | Jun 21, 2024 | Jul 22, 2024 | HK$0.0473 | 7.28% |
2 | Jun 19, 2023 | Jun 19, 2023 | Jun 19, 2023 | HK$0.0224 | 4.00% |
3 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | HK$0.0599 | 9.22% |
4 | Jun 28, 2021 | Jun 28, 2021 | Jun 28, 2021 | HK$0.0413 | 6.66% |
5 | May 29, 2020 | Jul 13, 2020 | Aug 18, 2020 | HK$0.0252 | 4.13% |
FAQ
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