Tai Hing Group Holdings Ltd Stock Forecast
Green day on Thursday for Tai Hing Group Holdings Ltd stock after gaining 1.16%
(Updated on Apr 18, 2024)
The Tai Hing Group Holdings Ltd stock price gained 1.16% on the last trading day (Thursday, 18th Apr 2024), rising from HK$0.86 to HK$0.87. During the last trading day the stock fluctuated 1.16% from a day low at HK$0.86 to a day high of HK$0.87. The price has been going up and down for this period, and there has been a -1.14% loss for the last 2 weeks. Volume fell on the last day by -489 thousand shares and in total, 47 thousand shares were bought and sold for approximately HK$40.89 thousand. 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 lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.86 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.11% during the next 3 months and, with a 90% probability hold a price between HK$0.93 and HK$1.03 at the end of this 3-month period.
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6811.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Tai Hing Group Holdings Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.88. On a fall, the stock will find some support from the short-term average at HK$0.87. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -6.45%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tai Hing Group Holdings Ltd stock
Tai Hing Group Holdings Ltd finds support from accumulated volume at HK$0.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0100 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 1.88%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6811.HK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Tai Hing Group Holdings Ltd to open at HK$0.87, and during the day (based on 14 day Average True Range), to move between HK$0.85 and HK$0.89, which gives a possible trading interval of +/-HK$0.0197 (+/-2.27%) up or down from last closing price. If Tai Hing Group Holdings Ltd takes out the full calculated possible swing range there will be an estimated 4.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.88 (1.15%) than the support at HK$0.86 (1.15%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tai Hing Group Holdings Ltd stock A Buy?
The Tai Hing Group Holdings Ltd stock holds several negative signals and despite the positive trend, we believe Tai Hing Group Holdings Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.438 Sell Candidate Unchanged
Predicted Opening Price for Tai Hing Group Holdings Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| HK$0.87 ( 0.383%) | HK$0.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6811.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 0.766 % | |
| R2 | 0.87 | 0.327 % | ||
| R1 | 0.87 | 0.0559 % | ||
| Current price: | 0.87 | |||
| Support | S1 | 0.86 | -0.82 % | |
| S2 | 0.86 | -1.09 % | ||
| S3 | 0.86 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.90 | 3.45 % | |
| R2 | 0.89 | 2.30 % | ||
| R1 | 0.88 | 1.15 % | ||
| Current price | 0.87 | |||
| Support | S1 | 0.86 | -1.15% | |
| S2 | 0.85 | -2.30% | ||
| S3 | 0.81 | -6.90% |
6811 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | Jun 07, 2024 | HK$0.0700 | 8.05% |
| 2 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | HK$0.0250 | 2.94% |
| 3 | Oct 06, 2022 | Oct 06, 2022 | Oct 06, 2022 | HK$0.0250 | 2.50% |
| 4 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.0495 | 4.30% |
| 5 | Oct 07, 2021 | Oct 07, 2021 | Oct 07, 2021 | HK$0.0250 | 1.59% |
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