Bosideng International Holdings Limited Stock Forecast
Green day on Thursday for Bosideng International Holdings Limited stock after gaining 0.662%
(Updated on May 02, 2024)
The Bosideng International Holdings Limited stock price gained 0.662% on the last trading day (Thursday, 2nd May 2024), rising from HK$4.53 to HK$4.56. During the last trading day the stock fluctuated 2.47% from a day low at HK$4.46 to a day high of HK$4.57. The price has risen in 7 of the last 10 days and is up by 15.15% over the past 2 weeks. Volume fell on the last day by -17 million shares and in total, 12 million shares were bought and sold for approximately HK$55.69 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$4.61 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 16.74% during the next 3 months and, with a 90% probability hold a price between HK$4.65 and HK$5.38 at the end of this 3-month period.
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3998.HK Signals & Forecast
The Bosideng International 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$4.53 and HK$4.14. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, April 25, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bosideng International Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.32 and HK$3.91. 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, Bosideng International Holdings Limited finds support just below today's level at HK$4.32. If this is broken, then the next support from accumulated volume will be at HK$3.91 and HK$3.88.
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$0.110 between high and low, or 2.47%. For the last week, the stock has had daily average volatility of 2.75%.
The Bosideng International Holdings 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. 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$4.43 (-2.96%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (3998.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bosideng International Holdings Limited to open at HK$4.53, and during the day (based on 14 day Average True Range), to move between HK$4.42 and HK$4.70, which gives a possible trading interval of +/-HK$0.136 (+/-2.99%) up or down from last closing price. If Bosideng International Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$4.32, some HK$0.240 (5.26%) from the current price of HK$4.56, our system finds the risk reward attractive.
Is Bosideng International Holdings Limited 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 Bosideng International Holdings Limited stock to perform well in the short-term.
Current score: 2.800 Buy Candidate Unchanged
Predicted Opening Price for Bosideng International Holdings Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$4.53 ( 0.658%) | HK$4.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3998.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.64 | 1.75 % | |
| R2 | 4.60 | 0.83 % | ||
| R1 | 4.57 | 0.264 % | ||
| Current price: | 4.56 | |||
| Support | S1 | 4.49 | -1.58 % | |
| S2 | 4.46 | -2.15 % | ||
| S3 | 4.42 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.56 | |||
| Support | S1 | 4.32 | -5.26% | |
| S2 | 3.91 | -14.25% | ||
| S3 | 3.88 | -14.91% |
3998 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | HK$0 | 0% |
| 2 | Dec 13, 2022 | Dec 13, 2022 | Dec 13, 2022 | HK$0.0450 | 1.16% |
| 3 | Aug 24, 2022 | Aug 24, 2022 | Aug 24, 2022 | HK$0.135 | 3.14% |
| 4 | Dec 16, 2021 | Dec 16, 2021 | Dec 16, 2021 | HK$0.0450 | 0.91% |
| 5 | Aug 24, 2021 | Aug 24, 2021 | Aug 24, 2021 | HK$0.100 | 1.75% |
FAQ
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