China Dongxiang (Group) Co., Ltd. Stock Forecast
Stronger technical forecast for China Dongxiang (Group) Co., Ltd. stock price after Friday trading.
(Updated on May 24, 2024)
The China Dongxiang (Group) Co., Ltd. stock price gained 1.30% on the last trading day (Friday, 24th May 2024), rising from HK$0.385 to HK$0.390. During the last trading day the stock fluctuated 2.63% from a day low at HK$0.380 to a day high of HK$0.390. The price has risen in 5 of the last 10 days and is up by 4% over the past 2 weeks. Volume fell on the last day by -8 million shares and in total, 3 million shares were bought and sold for approximately HK$985.92 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 upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$0.395 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.11% during the next 3 months and, with a 90% probability hold a price between HK$0.351 and HK$0.404 at the end of this 3-month period.
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3818.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -1.27%. 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). 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. 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$0.388 and HK$0.371. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for China Dongxiang (Group) Co., Ltd. stock
China Dongxiang (Group) Co., Ltd. finds support from accumulated volume at HK$0.385 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved HK$0.0100 between high and low, or 2.63%. For the last week the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: HK$0.376 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (3818.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect China Dongxiang (Group) Co., Ltd. to open at HK$0.387, and during the day (based on 14 day Average True Range), to move between HK$0.379 and HK$0.401, which gives a possible trading interval of +/-HK$0.0109 (+/-2.81%) 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 5.61% 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$0.395 (1.28%) than the support at HK$0.385 (1.28%), 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?
China Dongxiang (Group) Co., 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.172 Hold/Accumulate Upgraded
Predicted Opening Price for China Dongxiang (Group) Co., Ltd. of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.387 ( 0.85%) | HK$0.390 |
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 | 0.397 | 1.71 % | |
| R2 | 0.393 | 0.730 % | ||
| R1 | 0.390 | 0.125 % | ||
| Current price: | 0.390 | |||
| Support | S1 | 0.383 | -1.83 % | |
| S2 | 0.380 | -2.44 % | ||
| S3 | 0.377 | -3.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.400 | 2.56 % | ||
| R1 | 0.395 | 1.28 % | ||
| Current price | 0.390 | |||
| Support | S1 | 0.385 | -1.28% | |
| S2 | 0.380 | -2.56% | ||
| S3 | 0.370 | -5.13% |
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% |
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