Huatai Securities Co., Ltd. Stock Forecast
Huatai Securities Co., Ltd. stock downgraded from Strong Buy Candidate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The Huatai Securities Co., Ltd. stock price gained 0.596% on the last trading day (Monday, 20th May 2024), rising from HK$10.06 to HK$10.12. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.38% from a day low at HK$10.06 to a day high of HK$10.40. The price has risen in 7 of the last 10 days and is up by 8.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 494 thousand more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately HK$60.77 million.
Given the current horizontal trend, you can expect Huatai Securities Co., Ltd. stock with a 90% probability to be traded between HK$8.60 and HK$10.18 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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6886.HK Signals & Forecast
Mostly positive signals in the chart today. 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$9.77 and HK$9.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 18.64%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Huatai Securities Co., Ltd. stock
Huatai Securities Co., Ltd. finds support from accumulated volume at HK$9.78 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$0.340 between high and low, or 3.38%. For the last week, the stock has had daily average volatility of 3.69%.
Our recommended stop-loss: HK$9.74 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (6886.HK) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Huatai Securities Co., Ltd. to open at HK$10.19, and during the day (based on 14 day Average True Range), to move between HK$9.80 and HK$10.44, which gives a possible trading interval of +/-HK$0.315 (+/-3.11%) 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 6.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$9.78, some HK$0.340 (3.36%) from the current price of HK$10.12, our system finds the risk reward attractive.
Is Huatai Securities Co., Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Huatai Securities Co., Ltd. stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.874 Buy Candidate Downgraded
Predicted Opening Price for Huatai Securities Co., Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| HK$10.19 ( 0.725%) | HK$10.12 |
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 | 10.53 | 4.08 % | |
| R2 | 10.40 | 2.80 % | ||
| R1 | 10.32 | 2.01 % | ||
| Current price: | 10.12 | |||
| Support | S1 | 10.06 | -0.559 % | |
| S2 | 9.98 | -1.35 % | ||
| S3 | 9.85 | -2.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.12 | |||
| Support | S1 | 9.78 | -3.36% | |
| S2 | 9.57 | -5.43% | ||
| S3 | 9.52 | -5.93% |
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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