Topsports International Holdings Ltd Stock Forecast
Topsports International Holdings Ltd stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The Topsports International Holdings Ltd stock price gained 0.370% on the last trading day (Friday, 3rd May 2024), rising from HK$5.40 to HK$5.42. During the last trading day the stock fluctuated 4.15% from a day low at HK$5.30 to a day high of HK$5.52. The price has risen in 6 of the last 10 days and is up by 3.63% over the past 2 weeks. Volume fell on the last day by -6 million shares and in total, 13 million shares were bought and sold for approximately HK$69.48 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Topsports International Holdings Ltd stock with a 90% probability to be traded between HK$4.99 and HK$5.62 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.
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6110.HK Signals & Forecast
The Topsports International Holdings Ltd 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$5.37 and HK$5.36. 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 Tuesday, April 30, 2024, and so far it has fallen -0.733%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Topsports International Holdings Ltd stock
Topsports International Holdings Ltd finds support from accumulated volume at HK$5.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.220 (4.15%) between high and low. For the last week, the stock has had daily average volatility of 4.49%.
Our recommended stop-loss: HK$5.21 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (6110.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Topsports International Holdings Ltd to open at HK$5.41, and during the day (based on 14 day Average True Range), to move between HK$5.20 and HK$5.64, which gives a possible trading interval of +/-HK$0.221 (+/-4.08%) up or down from last closing price. If Topsports International Holdings Ltd takes out the full calculated possible swing range there will be an estimated 8.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$5.40 (0.37%) than the resistance at HK$5.44 (0.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Topsports International Holdings Ltd stock A Buy?
Topsports International Holdings 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.006 Hold/Accumulate Upgraded
Predicted Opening Price for Topsports International Holdings Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$5.41 ( 0.123%) | HK$5.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6110.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.63 | 3.94 % | |
| R2 | 5.55 | 2.39 % | ||
| R1 | 5.50 | 1.43 % | ||
| Current price: | 5.42 | |||
| Support | S1 | 5.33 | -1.67 % | |
| S2 | 5.28 | -2.63 % | ||
| S3 | 5.19 | -4.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.61 | 3.51 % | |
| R2 | 5.51 | 1.66 % | ||
| R1 | 5.44 | 0.369 % | ||
| Current price | 5.42 | |||
| Support | S1 | 5.40 | -0.369% | |
| S2 | 5.30 | -2.21% | ||
| S3 | 5.25 | -3.14% |
6110 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | HK$0 | 0% |
| 2 | Aug 01, 2023 | Aug 01, 2023 | Aug 01, 2023 | HK$0.165 | 2.41% |
| 3 | Nov 25, 2022 | Nov 25, 2022 | Nov 25, 2022 | HK$0.138 | 3.20% |
| 4 | Aug 04, 2022 | Aug 04, 2022 | Aug 04, 2022 | HK$0.266 | 4.16% |
| 5 | Nov 29, 2021 | Nov 29, 2021 | Nov 29, 2021 | HK$0.157 | 1.72% |
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