Bank of Qingdao Co., Ltd. Stock Forecast
Bank of Qingdao Co., Ltd. stock price ended at HK$2.28 on Wednesday, after losing 1.30%.
(Updated on May 08, 2024)
The Bank of Qingdao Co., Ltd. stock price fell by -1.30% on the last day (Wednesday, 8th May 2024) from HK$2.31 to HK$2.28. During the last trading day the stock fluctuated 2.19% from a day low at HK$2.28 to a day high of HK$2.33. The price has risen in 7 of the last 10 days and is up by 8.57% over the past 2 weeks. Volume has increased on the last day by 391 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, 2 million shares were bought and sold for approximately HK$4.25 million.
The stock lies in the middle of a wide and weak 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 7.81% during the next 3 months and, with a 90% probability hold a price between HK$2.23 and HK$2.57 at the end of this 3-month period.
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3866.HK Signals & Forecast
The Bank of Qingdao 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$2.28 and HK$2.12. 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 Thursday, May 02, 2024, and so far it has fallen -3.80%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Bank of Qingdao Co., Ltd. stock
Bank of Qingdao Co., Ltd. finds support from accumulated volume at HK$2.26 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0500 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 4.42%.
Our recommended stop-loss: HK$2.19 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (3866.HK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Bank of Qingdao Co., Ltd. to open at HK$2.30, and during the day (based on 14 day Average True Range), to move between HK$2.23 and HK$2.33, which gives a possible trading interval of +/-HK$0.0547 (+/-2.40%) up or down from last closing price. If Bank of Qingdao Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.79% 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$2.30 (0.88%) than the support at HK$2.26 (0.88%), 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 Bank of Qingdao 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 Bank of Qingdao Co., Ltd. stock to perform well in the short-term.
Current score: 1.026 Buy Candidate Unchanged
Predicted Opening Price for Bank of Qingdao Co., Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| HK$2.30 ( 0.731%) | HK$2.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3866.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.35 | 2.92 % | |
| R2 | 2.33 | 2.09 % | ||
| R1 | 2.32 | 1.57 % | ||
| Current price: | 2.28 | |||
| Support | S1 | 2.28 | -0.107 % | |
| S2 | 2.27 | -0.624 % | ||
| S3 | 2.25 | -1.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.37 | 3.95 % | |
| R2 | 2.31 | 1.32 % | ||
| R1 | 2.30 | 0.88 % | ||
| Current price | 2.28 | |||
| Support | S1 | 2.26 | -0.88% | |
| S2 | 2.06 | -9.65% | ||
| S3 | 2.05 | -10.09% |
3866 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jul 30, 2024 | HK$0.173 | 7.57% |
| 2 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.177 | 7.45% |
| 3 | May 12, 2022 | May 12, 2022 | May 12, 2022 | HK$0.189 | 5.46% |
| 4 | May 13, 2021 | May 13, 2021 | May 13, 2021 | HK$0.211 | 4.48% |
| 5 | May 11, 2020 | May 11, 2020 | May 11, 2020 | HK$0.214 | 4.11% |
FAQ
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