China Dongxiang (Group) Co., Ltd. Stock Forecast
Green day on Friday for China Dongxiang (Group) Co., Ltd.
(Updated on May 03, 2024)
The China Dongxiang (Group) Co., Ltd. stock price gained 1.32% on the last trading day (Friday, 3rd May 2024), rising from HK$0.380 to HK$0.385. During the last trading day the stock fluctuated 1.32% from a day low at HK$0.380 to a day high of HK$0.385. The price has risen in 7 of the last 10 days and is up by 8.45% over the past 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 790 thousand shares were bought and sold for approximately HK$304.15 thousand. 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 12.91% during the next 3 months and, with a 90% probability hold a price between HK$0.378 and HK$0.491 at the end of this 3-month period.
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3818.HK Signals & Forecast
The China Dongxiang (Group) Co., 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$0.373 and HK$0.366. 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). 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, March 01, 2024, and so far it has fallen -3.75%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for China Dongxiang (Group) Co., Ltd. stock
China Dongxiang (Group) Co., Ltd. finds support from accumulated volume at HK$0.375 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$0.0050 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: HK$0.366 (-4.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (3818.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Dongxiang (Group) Co., Ltd. to open at HK$0.383, and during the day (based on 14 day Average True Range), to move between HK$0.373 and HK$0.397, which gives a possible trading interval of +/-HK$0.0117 (+/-3.04%) up or down from last closing price. If China Dongxiang (Group) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.08% 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$0.390 (1.30%) than the support at HK$0.375 (2.60%), 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 China Dongxiang (Group) Co., Ltd. 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 China Dongxiang (Group) Co., Ltd. stock to perform well in the short-term.
Current score: 2.125 Buy Candidate Unchanged
Predicted Opening Price for China Dongxiang (Group) Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.383 ( 0.433%) | HK$0.385 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3818.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.388 | 0.87 % | |
| R2 | 0.386 | 0.370 % | ||
| R1 | 0.385 | 0.0632 % | ||
| Current price: | 0.385 | |||
| Support | S1 | 0.381 | -0.93 % | |
| S2 | 0.380 | -1.24 % | ||
| S3 | 0.378 | -1.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.400 | 3.90 % | ||
| R1 | 0.390 | 1.30 % | ||
| Current price | 0.385 | |||
| Support | S1 | 0.375 | -2.60% | |
| S2 | 0.355 | -7.79% | ||
| S3 | 0.300 | -22.08% |
3818 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 05, 2023 | Dec 05, 2023 | Dec 05, 2023 | HK$0 | 0% |
| 2 | Dec 07, 2022 | Dec 07, 2022 | Dec 07, 2022 | HK$0.0127 | 3.68% |
| 3 | Aug 23, 2021 | Aug 23, 2021 | Aug 23, 2021 | HK$0.0185 | 2.06% |
| 4 | Dec 08, 2020 | Dec 08, 2020 | Dec 08, 2020 | HK$0.0670 | 7.53% |
| 5 | Jun 17, 2020 | Aug 21, 2020 | Sep 08, 2020 | HK$0.0202 | 2.08% |
FAQ
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