Tenfu (Cayman) Holdings Company Limited Stock Forecast
Stronger technical forecast for Tenfu (Cayman) Holdings Company Limited stock price after Thursday trading.
(Updated on Jun 20, 2024)
The Tenfu (Cayman) Holdings Company Limited stock price gained 2.22% on the last trading day (Thursday, 20th Jun 2024), rising from HK$4.50 to HK$4.60. During the last trading day the stock fluctuated 0% from a day low at HK$4.60 to a day high of HK$4.60. The price has been going up and down for this period, and there has been a 0% change 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, 1 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately HK$9.20 thousand.
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 15.98% during the next 3 months and, with a 90% probability hold a price between HK$5.01 and HK$5.71 at the end of this 3-month period.
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6868.HK Signals & Forecast
The Tenfu (Cayman) Holdings Company Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$4.56 and HK$4.58. A breakdown below any of these levels will issue sell signals. Tenfu (Cayman) Holdings Company Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Monday, May 20, 2024, and so far it has fallen -1.50%. 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).
Support, Risk & Stop-loss for Tenfu (Cayman) Holdings Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.26 and HK$3.85. 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, Tenfu (Cayman) Holdings Company Limited finds support just below today's level at HK$4.26. If this is broken, then the next support from accumulated volume will be at HK$3.85 and HK$3.65.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.444%.
Our recommended stop-loss: HK$4.36 (-5.17%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 59 days ago.)
Trading Expectations (6868.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Tenfu (Cayman) Holdings Company Limited to open at HK$4.60, and during the day (based on 14 day Average True Range), to move between HK$4.56 and HK$4.64, which gives a possible trading interval of +/-HK$0.0381 (+/-0.83%) up or down from last closing price. If Tenfu (Cayman) Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 1.65% 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$4.63 (0.65%) than the support at HK$4.26 (7.39%), 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 Tenfu (Cayman) Holdings Company Limited stock A Buy?
Tenfu (Cayman) Holdings Company Limited 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: -0.139 Hold/Accumulate Upgraded
Predicted Opening Price for Tenfu (Cayman) Holdings Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$4.60 ( 0%) | HK$4.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6868.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.60 | - |
| R2 | 4.60 | - |
| R1 | 4.60 | - |
| Price | 4.60 | |
| S1 | 4.60 | - |
| S2 | 4.60 | - |
| S3 | 4.60 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 4.67 | 1.52% |
| R1 | 4.63 | 0.652% |
| Price | 4.60 | |
| S1 | 4.26 | -7.39% |
| S2 | 3.85 | -16.30% |
| S3 | 3.65 | -20.65% |
6868 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 29, 2024 | HK$0.120 | 2.61% |
| 2 | Sep 04, 2023 | Sep 04, 2023 | Sep 04, 2023 | HK$0.0500 | 1.09% |
| 3 | May 19, 2023 | May 19, 2023 | May 19, 2023 | HK$0.130 | 2.79% |
| 4 | Aug 31, 2022 | Aug 31, 2022 | Aug 31, 2022 | HK$0.0400 | 0.80% |
| 5 | May 20, 2022 | May 20, 2022 | May 20, 2022 | HK$0.230 | 4.42% |
FAQ
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