China BlueChemical Ltd. Stock Forecast
China BlueChemical Ltd. stock downgraded to Hold/Accumulate
(Updated on May 02, 2024)
The China BlueChemical Ltd. stock price fell by -2.81% on the last day (Thursday, 2nd May 2024) from HK$2.49 to HK$2.42. During the last trading day the stock fluctuated 2.07% from a day low at HK$2.42 to a day high of HK$2.47. The price has fallen in 5 of the last 10 days and is down by -0.82% for this period. Volume has increased on the last day by 3 million 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, 6 million shares were bought and sold for approximately HK$14.31 million.
The stock lies in the middle of a 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 13.09% during the next 3 months and, with a 90% probability hold a price between HK$2.68 and HK$2.86 at the end of this 3-month period.
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3983.HK Signals & Forecast
The China BlueChemical Ltd. 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$2.46. On a fall, the stock will find some support from the long-term average at approximately HK$2.38. 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 Friday, April 26, 2024, and so far it has fallen -3.59%. 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 China BlueChemical Ltd. stock
China BlueChemical Ltd. finds support from accumulated volume at HK$2.35 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 2.07%. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: HK$2.32 (-4.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (3983.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect China BlueChemical Ltd. to open at HK$2.44, and during the day (based on 14 day Average True Range), to move between HK$2.35 and HK$2.49, which gives a possible trading interval of +/-HK$0.0711 (+/-2.94%) up or down from last closing price. If China BlueChemical Ltd. takes out the full calculated possible swing range there will be an estimated 5.87% 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$2.45 (1.24%) than the support at HK$2.35 (2.89%), 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.
Earnings coming up
China BlueChemical Ltd. will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for China BlueChemical Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.01% in the first trading day after earnings release.
Is China BlueChemical Ltd. stock A Buy?
China BlueChemical 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. 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: 0.209 Hold/Accumulate Downgraded
Predicted Opening Price for China BlueChemical Ltd. of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
HK$2.44 ( 0.689%) | HK$2.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3983.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.49 | 2.75 % | |
R2 | 2.47 | 1.97 % | ||
R1 | 2.46 | 1.48 % | ||
Current price: | 2.42 | |||
Support | S1 | 2.42 | -0.101 % | |
S2 | 2.41 | -0.588 % | ||
S3 | 2.39 | -1.38 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.50 | 3.31 % | |
R2 | 2.46 | 1.65 % | ||
R1 | 2.45 | 1.24 % | ||
Current price | 2.42 | |||
Support | S1 | 2.35 | -2.89% | |
S2 | 2.34 | -3.31% | ||
S3 | 2.30 | -4.96% |
3983 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 04, 2024 | Jun 04, 2024 | Jun 30, 2024 | HK$0.224 | 9.26% |
2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | HK$0.199 | 11.17% |
3 | Jun 01, 2022 | Jun 01, 2022 | Jun 01, 2022 | HK$0.182 | 7.09% |
4 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$0.0966 | 4.18% |
5 | Mar 27, 2020 | Jun 02, 2020 | Jun 30, 2020 | HK$0.0829 | 7.21% |
FAQ
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