China Starch Holdings Limited Stock Forecast
Strong day for China Starch Holdings Limited stock price on Friday rising 5.99% to HK$0.177
(Updated on May 03, 2024)
The China Starch Holdings Limited stock price gained 5.99% on the last trading day (Friday, 3rd May 2024), rising from HK$0.167 to HK$0.177. During the last trading day the stock fluctuated 8.54% from a day low at HK$0.164 to a day high of HK$0.178. The price has risen in 5 of the last 10 days and is up by 14.19% 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, 60 thousand more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$1.67 million.
The stock has broken the wide and 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$0.168, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.184 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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3838.HK Signals & Forecast
The China Starch Holdings 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$0.159 and HK$0.149. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 16.45%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for China Starch Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.155 and HK$0.149. 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, China Starch Holdings Limited finds support just below today's level at HK$0.155. If this is broken, then the next support from accumulated volume will be at HK$0.149 and HK$0.145.
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$0.0140 between high and low, or 8.54%. For the last week, the stock has had daily average volatility of 5.68%.
Our recommended stop-loss: HK$0.171 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (3838.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Starch Holdings Limited to open at HK$0.173, and during the day (based on 14 day Average True Range), to move between HK$0.170 and HK$0.184, which gives a possible trading interval of +/-HK$0.0073 (+/-4.10%) up or down from last closing price. If China Starch Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.155, some HK$0.0220 (12.43%) from the current price of HK$0.177, our system finds the risk reward attractive.
Is China Starch Holdings Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for China Starch Holdings Limited stock to perform well in the short-term period.
Current score: 8.431 Strong Buy Candidate Unchanged
Predicted Opening Price for China Starch Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.173 ( 2.26%) | HK$0.177 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3838.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.187 | 5.65 % | |
| R2 | 0.182 | 2.63 % | ||
| R1 | 0.178 | 0.762 % | ||
| Current price: | 0.177 | |||
| Support | S1 | 0.168 | -5.28 % | |
| S2 | 0.164 | -7.15 % | ||
| S3 | 0.159 | -10.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.177 | |||
| Support | S1 | 0.155 | -12.43% | |
| S2 | 0.149 | -15.82% | ||
| S3 | 0.145 | -18.08% |
3838 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jul 17, 2024 | HK$0.0069 | 3.90% |
| 2 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | HK$0.0069 | 3.54% |
| 3 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | HK$0.0069 | 2.65% |
| 4 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | HK$0.0090 | 5.20% |
| 5 | Mar 18, 2020 | Jun 01, 2020 | Jun 01, 2020 | HK$0.0062 | 5.79% |
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