Yangtze Optical Fibre And Cable Joint Stock Forecast
Green day on Friday for Yangtze Optical Fibre And Cable Joint
(Updated on May 17, 2024)
The Yangtze Optical Fibre And Cable Joint stock price gained 1.22% on the last trading day (Friday, 17th May 2024), rising from HK$9.05 to HK$9.16. During the last trading day the stock fluctuated 1.66% from a day low at HK$9.03 to a day high of HK$9.18. The price has risen in 6 of the last 10 days and is up by 2.35% over the past 2 weeks. Volume fell on the last day by -657 thousand shares and in total, 1 million shares were bought and sold for approximately HK$13.66 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Yangtze Optical Fibre And Cable Joint stock with a 90% probability to be traded between HK$8.25 and HK$9.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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6869.HK Signals & Forecast
The Yangtze Optical Fibre And Cable Joint 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$8.82 and HK$8.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 10.90%. 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 Yangtze Optical Fibre And Cable Joint stock
Yangtze Optical Fibre And Cable Joint finds support from accumulated volume at HK$9.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.150 between high and low, or 1.66%. For the last week, the stock has had daily average volatility of 3.74%.
Our recommended stop-loss: HK$8.84 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (6869.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Yangtze Optical Fibre And Cable Joint Stock Limited Company to open at HK$9.12, and during the day (based on 14 day Average True Range), to move between HK$8.82 and HK$9.50, which gives a possible trading interval of +/-HK$0.341 (+/-3.72%) up or down from last closing price. If Yangtze Optical Fibre And Cable Joint Stock Limited Company takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$9.14 (0.22%) than the resistance at HK$9.27 (1.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yangtze Optical Fibre And Cable Joint Stock Limited Company stock A Buy?
Yangtze Optical Fibre And Cable Joint 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.
Current score: -0.589 Hold/Accumulate Unchanged
Predicted Opening Price for Yangtze Optical Fibre And Cable Joint Stock Limited Company of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$9.12 ( 0.400%) | HK$9.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6869.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.27 | 1.24 % | |
| R2 | 9.22 | 0.612 % | ||
| R1 | 9.18 | 0.225 % | ||
| Current price: | 9.16 | |||
| Support | S1 | 9.07 | -1.03 % | |
| S2 | 9.03 | -1.41 % | ||
| S3 | 8.97 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.86 | 7.64 % | |
| R2 | 9.28 | 1.31 % | ||
| R1 | 9.27 | 1.20 % | ||
| Current price | 9.16 | |||
| Support | S1 | 9.14 | -0.218% | |
| S2 | 8.81 | -3.82% | ||
| S3 | 8.26 | -9.83% |
6869 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | HK$0.502 | 4.23% |
| 2 | Jul 04, 2022 | Jul 04, 2022 | Jul 04, 2022 | HK$0.329 | 2.58% |
| 3 | Jun 22, 2021 | Jun 22, 2021 | Jun 22, 2021 | HK$0.262 | 2.75% |
| 4 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | HK$0.348 | 2.41% |
| 5 | Jun 05, 2019 | Jun 05, 2019 | Jun 05, 2019 | HK$0.284 | 1.77% |
FAQ
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