Bosideng International Holdings Limited Stock Forecast
Bosideng International Holdings Limited stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Bosideng International Holdings Limited stock price gained 0.426% on the last trading day (Friday, 17th May 2024), rising from HK$4.69 to HK$4.71. During the last trading day the stock fluctuated 2.81% from a day low at HK$4.62 to a day high of HK$4.75. The price has risen in 4 of the last 10 days and is up by 3.29% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 18 million shares were bought and sold for approximately HK$85.84 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$4.78 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 20.29% during the next 3 months and, with a 90% probability hold a price between HK$4.99 and HK$5.75 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$4.64 and HK$4.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 22.02%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bosideng International Holdings Limited stock
Bosideng International Holdings Limited finds support from accumulated volume at HK$4.56 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$0.130 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: HK$4.48 (-4.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (3998.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bosideng International Holdings Limited to open at HK$4.69, and during the day (based on 14 day Average True Range), to move between HK$4.58 and HK$4.84, which gives a possible trading interval of +/-HK$0.132 (+/-2.79%) 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 5.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$4.56, some HK$0.150 (3.18%) from the current price of HK$4.71, our system finds the risk reward attractive.
Is Bosideng International Holdings Limited stock A Buy?
Bosideng International Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.195 Strong Buy Candidate Upgraded
Predicted Opening Price for Bosideng International Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$4.69 ( 0.354%) | HK$4.71 |
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 | 4.82 | 2.41 % | |
| R2 | 4.77 | 1.35 % | ||
| R1 | 4.74 | 0.700 % | ||
| Current price: | 4.71 | |||
| Support | S1 | 4.64 | -1.41 % | |
| S2 | 4.61 | -2.06 % | ||
| S3 | 4.56 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.71 | |||
| Support | S1 | 4.56 | -3.18% | |
| S2 | 4.32 | -8.28% | ||
| S3 | 3.91 | -16.99% |
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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