EGL Holdings Company Limited Stock Forecast
EGL Holdings Company Limited stock upgraded to Buy Candidate.
(Updated on Jun 20, 2024)
The EGL Holdings Company Limited stock price gained 1.56% on the last trading day (Thursday, 20th Jun 2024), rising from HK$0.640 to HK$0.650. During the last trading day the stock fluctuated 3.13% from a day low at HK$0.640 to a day high of HK$0.660. The price has been going up and down for this period, and there has been a -1.52% loss for the last 2 weeks. Volume fell on the last day by -22 thousand shares and in total, 52 thousand shares were bought and sold for approximately HK$33.80 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 weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.639 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 4.53% during the next 3 months and, with a 90% probability hold a price between HK$0.668 and HK$0.733 at the end of this 3-month period.
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6882.HK Signals & Forecast
The EGL Holdings Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.650 and HK$0.669. A break-up above any of these levels will issue buy signals. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 1.56%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for EGL Holdings Company Limited stock
EGL Holdings Company Limited finds support from accumulated volume at HK$0.640 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 controlled movements and therefore the general risk is considered 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$0.0200 between high and low, or 3.13%. For the last week the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: HK$0.614 (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (6882.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect EGL Holdings Company Limited to open at HK$0.650, and during the day (based on 14 day Average True Range), to move between HK$0.635 and HK$0.665, which gives a possible trading interval of +/-HK$0.0153 (+/-2.36%) up or down from last closing price. If EGL Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 4.72% 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$0.660 (1.54%) than the support at HK$0.640 (1.54%), 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 EGL Holdings Company Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.565 Buy Candidate Upgraded
Predicted Opening Price for EGL Holdings Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.650 ( 0%) | HK$0.650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6882.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.670 | 3.08% |
| R2 | 0.662 | 1.90% |
| R1 | 0.658 | 1.18% |
| Price | 0.650 | |
| S1 | 0.642 | -1.18% |
| S2 | 0.638 | -1.90% |
| S3 | 0.630 | -3.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.680 | 4.62% |
| R2 | 0.670 | 3.08% |
| R1 | 0.660 | 1.54% |
| Price | 0.650 | |
| S1 | 0.640 | -1.54% |
| S2 | 0.630 | -3.08% |
| S3 | 0.620 | -4.62% |
6882 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2023 | Dec 29, 2023 | Jan 18, 2024 | HK$0.0700 | 12.07% |
| 2 | Mar 22, 2019 | Jun 06, 2019 | Jun 28, 2019 | HK$0.0400 | 5.63% |
| 3 | Aug 28, 2018 | Sep 10, 2018 | Sep 28, 2018 | HK$0.0100 | 1.33% |
| 4 | Mar 27, 2018 | Jun 01, 2018 | Jun 01, 2018 | HK$0.0100 | 0.95% |
| 5 | Aug 25, 2017 | Sep 07, 2017 | Sep 29, 2017 | HK$0.0200 | 1.48% |
FAQ
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