Haidilao International Holding Ltd. Stock Forecast
Haidilao International Holding Ltd. stock upgraded to Strong Buy Candidate.
(Updated on May 10, 2024)
The Haidilao International Holding Ltd. stock price gained 4.85% on the last trading day (Friday, 10th May 2024), rising from HK$18.98 to HK$19.90. During the last trading day the stock fluctuated 5.64% from a day low at HK$18.98 to a day high of HK$20.05. The price has been going up and down for this period, and there has been a 17.89% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 20 million shares were bought and sold for approximately HK$394.57 million.
The stock lies in the middle of a 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 33.29% during the next 3 months and, with a 90% probability hold a price between HK$22.95 and HK$27.86 at the end of this 3-month period.
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6862.HK Signals & Forecast
Mostly positive signals in the chart today. The Haidilao International Holding 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$19.14 and HK$17.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 24.69%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Haidilao International Holding Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$17.24 and HK$17.08. 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, Haidilao International Holding Ltd. finds support just below today's level at HK$17.24. If this is broken, then the next support from accumulated volume will be at HK$17.08 and HK$16.68.
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$1.07 between high and low, or 5.64%. For the last week, the stock has had daily average volatility of 3.87%.
The Haidilao International Holding Ltd. stock is extremely overbought on RSI14 (87). This increases the short-term risk substantially.
Our recommended stop-loss: HK$19.25 (-3.26%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (6862.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Haidilao International Holding Ltd. to open at HK$19.64, and during the day (based on 14 day Average True Range), to move between HK$19.07 and HK$20.73, which gives a possible trading interval of +/-HK$0.83 (+/-4.16%) up or down from last closing price. If Haidilao International Holding Ltd. takes out the full calculated possible swing range there will be an estimated 8.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$17.24, some HK$2.66 (13.37%) from the current price of HK$19.90, our system finds the risk reward attractive.
Is Haidilao International Holding Ltd. stock A Buy?
Haidilao International Holding 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.259 Strong Buy Candidate Upgraded
Predicted Opening Price for Haidilao International Holding Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$19.64 ( 1.29%) | HK$19.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6862.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.71 | 4.09 % | |
| R2 | 20.30 | 2.03 % | ||
| R1 | 20.05 | 0.764 % | ||
| Current price: | 19.90 | |||
| Support | S1 | 19.23 | -3.34 % | |
| S2 | 18.98 | -4.61 % | ||
| S3 | 18.57 | -6.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.90 | |||
| Support | S1 | 17.24 | -13.37% | |
| S2 | 17.08 | -14.17% | ||
| S3 | 16.68 | -16.18% |
6862 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jul 05, 2024 | HK$0.82 | 4.14% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | HK$0.116 | 0.668% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | HK$0.0210 | 0.0533% |
| 4 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$0.0210 | 0.0464% |
| 5 | Mar 25, 2020 | Jun 01, 2020 | Jun 01, 2020 | HK$0.150 | 0.390% |
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