Tenfu (Cayman) Holdings Company Limited Stock Forecast
Tenfu (Cayman) Holdings Company Limited stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The Tenfu (Cayman) Holdings Company Limited stock price fell by -2.17% on the last day (Monday, 17th Jun 2024) from HK$4.60 to HK$4.50. During the last trading day the stock fluctuated 2.22% from a day low at HK$4.50 to a day high of HK$4.60. The price has been going up and down for this period, and there has been a -2.17% loss for the last 2 weeks. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 11 thousand shares were bought and sold for approximately HK$49.50 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$4.42 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 20.07% during the next 3 months and, with a 90% probability hold a price between HK$5.31 and HK$5.93 at the end of this 3-month period.
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6868.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Tenfu (Cayman) Holdings Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$4.59 and HK$4.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -3.64%. 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). Tenfu (Cayman) Holdings Company Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
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$0.1000 between high and low, or 2.22%. For the last week the stock has had daily average volatility of 0.444%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6868.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Tenfu (Cayman) Holdings Company Limited to open at HK$4.53, and during the day (based on 14 day Average True Range), to move between HK$4.46 and HK$4.54, which gives a possible trading interval of +/-HK$0.0393 (+/-0.87%) 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 1.75% 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$4.58 (1.78%) than the support at HK$4.26 (5.33%), 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?
The Tenfu (Cayman) Holdings Company Limited stock holds several negative signals and despite the positive trend, we believe Tenfu (Cayman) Holdings Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.616 Sell Candidate Downgraded
Predicted Opening Price for Tenfu (Cayman) Holdings Company Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$4.53 ( 0.741%) | HK$4.50 |
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 | 4.63 | 2.96% |
| R2 | 4.60 | 2.11% |
| R1 | 4.57 | 1.59% |
| Price | 4.50 | |
| S1 | 4.50 | -0.108% |
| S2 | 4.47 | -0.633% |
| S3 | 4.43 | -1.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.60 | 2.22% |
| R2 | 4.59 | 2.00% |
| R1 | 4.58 | 1.78% |
| Price | 4.50 | |
| S1 | 4.26 | -5.33% |
| S2 | 3.85 | -14.44% |
| S3 | 3.65 | -18.89% |
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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