Huatai Securities Co., Ltd. Stock Forecast
Huatai Securities Co., Ltd. stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Huatai Securities Co., Ltd. stock price gained 2.63% on the last trading day (Thursday, 9th May 2024), rising from HK$9.12 to HK$9.36. During the last trading day the stock fluctuated 2.74% from a day low at HK$9.12 to a day high of HK$9.37. The price has been going up and down for this period, and there has been a 4.46% gain for the last 2 weeks. Volume fell on the last day by -247 thousand shares and in total, 3 million shares were bought and sold for approximately HK$28.16 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 lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.76% during the next 3 months and, with a 90% probability hold a price between HK$8.22 and HK$9.52 at the end of this 3-month period.
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6886.HK Signals & Forecast
The Huatai Securities Co., 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$9.32 and HK$9.08. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.68%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Huatai Securities Co., Ltd. stock
Huatai Securities Co., Ltd. finds support from accumulated volume at HK$9.32 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$0.250 between high and low, or 2.74%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6886.HK) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Huatai Securities Co., Ltd. to open at HK$9.28, and during the day (based on 14 day Average True Range), to move between HK$9.06 and HK$9.66, which gives a possible trading interval of +/-HK$0.304 (+/-3.25%) up or down from last closing price. If Huatai Securities Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.50% 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$9.39 (0.32%) than the support at HK$9.32 (0.43%), 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 Huatai Securities Co., Ltd. stock A Buy?
Huatai Securities Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.762 Sell Candidate Downgraded
Predicted Opening Price for Huatai Securities Co., Ltd. of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
HK$9.28 ( 0.82%) | HK$9.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6886.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.53 | 1.85 % | |
R2 | 9.44 | 0.83 % | ||
R1 | 9.38 | 0.201 % | ||
Current price: | 9.36 | |||
Support | S1 | 9.19 | -1.84 % | |
S2 | 9.13 | -2.47 % | ||
S3 | 9.03 | -3.49 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.82 | 4.91 % | |
R2 | 9.57 | 2.24 % | ||
R1 | 9.39 | 0.321 % | ||
Current price | 9.36 | |||
Support | S1 | 9.32 | -0.427% | |
S2 | 9.30 | -0.641% | ||
S3 | 9.26 | -1.07% |
6886 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | HK$0.489 | 5.30% |
2 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.526 | 4.81% |
3 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | HK$0.483 | 4.46% |
4 | Jun 22, 2020 | Jun 22, 2020 | Jun 22, 2020 | HK$0.328 | 2.51% |
5 | Jul 10, 2019 | Jul 10, 2019 | Jul 10, 2019 | HK$0.342 | 2.58% |
FAQ
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