Harbin Bank Co., Ltd. Stock Forecast
Harbin Bank Co., Ltd. stock price up 3.13% on Friday
(Updated on May 17, 2024)
The Harbin Bank Co., Ltd. stock price gained 3.13% on the last trading day (Friday, 17th May 2024), rising from HK$0.320 to HK$0.330. During the last trading day the stock fluctuated 4.76% from a day low at HK$0.315 to a day high of HK$0.330. The price has risen in 5 of the last 10 days and is up by 6.45% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 6 million shares were bought and sold for approximately HK$2.07 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 middle of a very wide and 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 28.30% during the next 3 months and, with a 90% probability hold a price between HK$0.365 and HK$0.474 at the end of this 3-month period.
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6138.HK Signals & Forecast
The Harbin Bank Co., 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$0.312 and HK$0.289. 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 34.15%. 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 Harbin Bank Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.310 and HK$0.285. 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, Harbin Bank Co., Ltd. finds support just below today's level at HK$0.310. If this is broken, then the next support from accumulated volume will be at HK$0.285 and HK$0.255.
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$0.0150 between high and low, or 4.76%. For the last week, the stock has had daily average volatility of 5.87%.
Our recommended stop-loss: HK$0.320 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (6138.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Harbin Bank Co., Ltd. to open at HK$0.325, and during the day (based on 14 day Average True Range), to move between HK$0.315 and HK$0.345, which gives a possible trading interval of +/-HK$0.0146 (+/-4.41%) up or down from last closing price. If Harbin Bank Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.310, some HK$0.0200 (6.06%) from the current price of HK$0.330, our system finds the risk reward attractive.
Is Harbin Bank Co., Ltd. stock A Buy?
Harbin Bank Co., Ltd. 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.
Current score: 7.604 Strong Buy Candidate Unchanged
Predicted Opening Price for Harbin Bank Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.325 ( 1.52%) | HK$0.330 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6138.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.340 | 3.03 % | |
| R2 | 0.334 | 1.29 % | ||
| R1 | 0.331 | 0.221 % | ||
| Current price: | 0.330 | |||
| Support | S1 | 0.319 | -3.25 % | |
| S2 | 0.316 | -4.32 % | ||
| S3 | 0.310 | -6.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.330 | |||
| Support | S1 | 0.310 | -6.06% | |
| S2 | 0.285 | -13.64% | ||
| S3 | 0.255 | -22.73% |
6138 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2020 | May 20, 2020 | Jul 15, 2020 | HK$0.109 | 9.11% |
| 2 | Mar 28, 2018 | May 23, 2018 | Jul 18, 2018 | HK$0.0617 | 3.63% |
| 3 | Mar 22, 2016 | May 26, 2016 | Jul 15, 2016 | HK$0.127 | 6.24% |
| 4 | Mar 30, 2015 | Jul 03, 2015 | Aug 28, 2015 | HK$0.131 | 5.51% |
| 5 | Apr 17, 2014 | Jun 26, 2014 | Aug 19, 2014 | HK$0.0479 | 1.61% |
FAQ
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