Kingsoft Corporation Limited Stock Forecast
Weaker technical forecast for Kingsoft Corporation Limited as stock downgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The Kingsoft Corporation Limited stock price fell by -3.21% on the last day (Wednesday, 8th May 2024) from HK$26.50 to HK$25.65. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.48% from a day low at HK$25.55 to a day high of HK$26.95. The price has fallen in 7 of the last 10 days but is still up by 3.43% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -906 thousand shares and in total, 5 million shares were bought and sold for approximately HK$128.47 million.
The stock lies in the middle of a 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 27.28% during the next 3 months and, with a 90% probability hold a price between HK$31.50 and HK$35.09 at the end of this 3-month period.
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3888.HK Signals & Forecast
The Kingsoft Corporation Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$26.41. On a fall, the stock will find some support from the long-term average at approximately HK$24.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -5.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Kingsoft Corporation Limited stock
Kingsoft Corporation Limited finds support from accumulated volume at HK$24.80 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$1.40 between high and low, or 5.48%. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: HK$24.20 (-5.65%) (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 (3888.HK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Kingsoft Corporation Limited to open at HK$26.05, and during the day (based on 14 day Average True Range), to move between HK$24.61 and HK$26.69, which gives a possible trading interval of +/-HK$1.04 (+/-4.04%) up or down from last closing price. If Kingsoft Corporation Limited takes out the full calculated possible swing range there will be an estimated 8.08% 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$25.70 (0.19%) than the support at HK$24.80 (3.31%), 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 Kingsoft Corporation Limited stock A Buy?
Kingsoft Corporation Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.121 Hold/Accumulate Downgraded
Predicted Opening Price for Kingsoft Corporation Limited of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
HK$26.05 ( 1.56%) | HK$25.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3888.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.45 | 7.02 % | |
R2 | 26.92 | 4.93 % | ||
R1 | 26.58 | 3.64 % | ||
Current price: | 25.65 | |||
Support | S1 | 25.52 | -0.526 % | |
S2 | 25.18 | -1.81 % | ||
S3 | 24.65 | -3.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.10 | 1.75 % | |
R2 | 25.75 | 0.390 % | ||
R1 | 25.70 | 0.195 % | ||
Current price | 25.65 | |||
Support | S1 | 24.80 | -3.31% | |
S2 | 24.00 | -6.43% | ||
S3 | 22.55 | -12.09% |
3888 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 31, 2024 | May 31, 2024 | Jun 19, 2024 | HK$0.140 | 0.547% |
2 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.130 | 0.417% |
3 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | HK$0.120 | 0.454% |
4 | May 30, 2022 | May 30, 2022 | May 30, 2022 | HK$0.120 | 0.464% |
5 | May 31, 2021 | May 31, 2021 | May 31, 2021 | HK$0.200 | 0.382% |
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