Midea Real Estate Holding Limited Stock Forecast
Big movements in Midea Real Estate Holding Limited stock price on Friday moving 10.22% between high and low
(Updated on May 17, 2024)
The Midea Real Estate Holding Limited stock price gained 13.17% on the last trading day (Friday, 17th May 2024), rising from HK$4.86 to HK$5.50. During the last trading day the stock fluctuated 10.22% from a day low at HK$4.99 to a day high of HK$5.50. The price has risen in 7 of the last 10 days and is up by 22.77% 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, 5 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$47.44 million.
Given the current horizontal trend, you can expect Midea Real Estate Holding Limited stock with a 90% probability to be traded between HK$3.51 and HK$5.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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3990.HK Signals & Forecast
The Midea Real Estate Holding 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$4.73 and HK$4.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 54.93%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Midea Real Estate Holding Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.74 and HK$4.38. 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, Midea Real Estate Holding Limited finds support just below today's level at HK$4.74. If this is broken, then the next support from accumulated volume will be at HK$4.38 and HK$4.26.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.510 between high and low, or 10.22%. For the last week, the stock has had daily average volatility of 7.15%.
The Midea Real Estate Holding Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$5.31 (-3.42%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (3990.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Midea Real Estate Holding Limited to open at HK$5.33, and during the day (based on 14 day Average True Range), to move between HK$5.22 and HK$5.78, which gives a possible trading interval of +/-HK$0.281 (+/-5.11%) up or down from last closing price. If Midea Real Estate Holding Limited takes out the full calculated possible swing range there will be an estimated 10.22% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$4.74, some HK$0.760 (13.82%) from the current price of HK$5.50, our system finds the risk reward attractive.
Earnings coming up
Midea Real Estate Holding Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Midea Real Estate Holding Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.00% in the first trading day after earnings release.
Is Midea Real Estate Holding Limited stock A Buy?
Midea Real Estate Holding 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Midea Real Estate Holding Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$5.33 ( 3.09%) | HK$5.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3990.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.84 | 6.18 % | |
| R2 | 5.65 | 2.64 % | ||
| R1 | 5.52 | 0.451 % | ||
| Current price: | 5.50 | |||
| Support | S1 | 5.14 | -6.63 % | |
| S2 | 5.01 | -8.82 % | ||
| S3 | 4.82 | -12.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.50 | |||
| Support | S1 | 4.74 | -13.82% | |
| S2 | 4.38 | -20.36% | ||
| S3 | 4.26 | -22.55% |
3990 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | HK$0 | 0% |
| 2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | HK$0.80 | 11.17% |
| 3 | May 30, 2022 | May 30, 2022 | May 30, 2022 | HK$1.60 | 12.56% |
| 4 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | HK$1.60 | 9.85% |
| 5 | Mar 30, 2020 | Jun 16, 2020 | Jul 10, 2020 | HK$1.60 | 7.98% |
FAQ
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