Huishang Bank Corporation Limited Stock Forecast
Huishang Bank Corporation Limited stock price ended at HK$2.38 on Friday, after losing 0%.
(Updated on May 03, 2024)
No changes to the price of Huishang Bank Corporation Limited stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 0.85% from a day low at HK$2.36 to a day high of HK$2.38. The price has been going up and down for this period, and there has been a 0.42% gain for the last 2 weeks.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at HK$2.38 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Huishang Bank Corporation Limited stock with a 90% probability to be traded between HK$2.35 and HK$2.39 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.
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3698.HK Signals & Forecast
The Huishang Bank Corporation 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$2.37 and HK$2.37. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Thursday, May 02, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Wednesday, April 10, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, April 12, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, April 10, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, April 12, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, April 10, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, April 12, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Huishang Bank Corporation Limited stock
Huishang Bank Corporation Limited finds support from accumulated volume at HK$2.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0200 between high and low, or 0.85%. For the last week the stock has had daily average volatility of 0.678%.
Our recommended stop-loss: HK$2.29 (-3.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (3698.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Huishang Bank Corporation Limited to open at HK$2.37, and during the day (based on 14 day Average True Range), to move between HK$2.36 and HK$2.40, which gives a possible trading interval of +/-HK$0.0198 (+/-0.83%) up or down from last closing price. If Huishang Bank Corporation Limited takes out the full calculated possible swing range there will be an estimated 1.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$2.37, some HK$0.0100 (0.42%) from the current price of HK$2.38, our system finds the risk reward attractive.
Is Huishang Bank Corporation Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Huishang Bank Corporation Limited stock to perform well in the short-term period.
Current score: 1.074 Buy Candidate Unchanged
Predicted Opening Price for Huishang Bank Corporation Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$2.37 ( 0.280%) | HK$2.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3698.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.39 | 0.560 % | |
| R2 | 2.39 | 0.239 % | ||
| R1 | 2.38 | 0.0409 % | ||
| Current price: | 2.38 | |||
| Support | S1 | 2.37 | -0.601 % | |
| S2 | 2.36 | -0.799 % | ||
| S3 | 2.35 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.38 | |||
| Support | S1 | 2.37 | -0.420% | |
| S2 | 2.36 | -0.84% | ||
| S3 | 2.35 | -1.26% |
3698 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | HK$0.140 | 5.82% |
| 2 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.104 | 4.15% |
| 3 | Mar 31, 2020 | Jul 03, 2020 | Aug 26, 2020 | HK$0.172 | 6.74% |
| 4 | Mar 28, 2019 | Jul 03, 2019 | Aug 26, 2019 | HK$0.0637 | 2.12% |
| 5 | Mar 23, 2018 | Jul 04, 2018 | Aug 29, 2018 | HK$0.0272 | 0.80% |
FAQ
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