Huabang Financial Holdings Limited Stock Forecast
Weaker technical forecast for Huabang Financial Holdings Limited as stock downgraded to Strong Sell Candidate.
(Updated on Jul 02, 2024)
The Huabang Financial Holdings Limited stock price fell by -4.76% on the last day (Tuesday, 2nd Jul 2024) from HK$0.630 to HK$0.600. During the last trading day the stock fluctuated 5.08% from a day low at HK$0.590 to a day high of HK$0.620. The price has risen in 5 of the last 10 days but is still down by -10.45% for this period. Volume has increased on the last day by 323 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 804 thousand shares were bought and sold for approximately HK$482.40 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.597 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 40.21% during the next 3 months and, with a 90% probability hold a price between HK$0.84 and HK$1.04 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
3638.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Huabang Financial Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.659 and HK$0.626. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -17.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Huabang Financial Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Huabang Financial Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.540 and HK$0.500. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Huabang Financial Holdings Limited finds support just below today's level at HK$0.540. If this is broken, then the next support from accumulated volume will be at HK$0.500 and HK$0.485.
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 5.08%. For the last week, the stock has had daily average volatility of 7.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3638.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Huabang Financial Holdings Limited to open at HK$0.603, and during the day (based on 14 day Average True Range), to move between HK$0.555 and HK$0.645, which gives a possible trading interval of +/-HK$0.0447 (+/-7.45%) up or down from last closing price. If Huabang Financial Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.91% 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$0.620 (3.33%) than the support at HK$0.540 (10.00%), 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 Huabang Financial Holdings Limited stock A Buy?
The Huabang Financial Holdings Limited stock holds several negative signals and despite the positive trend, we believe Huabang Financial Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.543 Strong Sell Candidate Downgraded
Predicted Opening Price for Huabang Financial Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.603 ( 0.556%) | HK$0.600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3638.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.633 | 5.56% |
| R2 | 0.622 | 3.65% |
| R1 | 0.615 | 2.47% |
| Price | 0.600 | |
| S1 | 0.592 | -1.35% |
| S2 | 0.585 | -2.53% |
| S3 | 0.573 | -4.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.680 | 13.33% |
| R2 | 0.640 | 6.67% |
| R1 | 0.620 | 3.33% |
| Price | 0.600 | |
| S1 | 0.540 | -10.00% |
| S2 | 0.500 | -16.67% |
| S3 | 0.485 | -19.17% |
3638 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 14, 2016 | Dec 02, 2016 | Dec 21, 2016 | HK$0.0500 | 10.20% |
FAQ
Click here for our free guide on how to buy Huabang Financial Holdings Limited Stock.
