Jilin Province Huinan Changlong Stock Forecast
Jilin Province Huinan Changlong stock price up 2.07% on Friday
(Updated on Jun 14, 2024)
The Jilin Province Huinan Changlong stock price gained 2.07% on the last trading day (Friday, 14th Jun 2024), rising from HK$1.45 to HK$1.48. During the last trading day the stock fluctuated 4.23% from a day low at HK$1.42 to a day high of HK$1.48. The price has fallen in 5 of the last 10 days and is down by -3.9% for this period. Volume fell on the last day by -196 thousand shares and in total, 8 thousand shares were bought and sold for approximately HK$11.84 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 middle of a very 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 -19.79% during the next 3 months and, with a 90% probability hold a price between HK$0.95 and HK$1.30 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8049.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 2.07%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jilin Province Huinan Changlong 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$1.48 and HK$1.53. A break-up above any of these levels will issue buy signals. 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.
Support, Risk & Stop-loss for Jilin Province Huinan Changlong stock
Jilin Province Huinan Changlong finds support from accumulated volume at HK$1.47 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$0.0600 between high and low, or 4.23%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8049.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Jilin Province Huinan Changlong Bio-pharmacy Company Limited to open at HK$1.46, and during the day (based on 14 day Average True Range), to move between HK$1.44 and HK$1.52, which gives a possible trading interval of +/-HK$0.0402 (+/-2.72%) up or down from last closing price. If Jilin Province Huinan Changlong Bio-pharmacy Company Limited takes out the full calculated possible swing range there will be an estimated 5.43% 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$1.47 (0.68%) than the resistance at HK$1.52 (2.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jilin Province Huinan Changlong Bio-pharmacy Company Limited stock A Buy?
Jilin Province Huinan Changlong holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.486 Sell Candidate Unchanged
Predicted Opening Price for Jilin Province Huinan Changlong Bio-pharmacy Company Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$1.46 ( 1.35%) | HK$1.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8049.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.52 | 2.70% |
| R2 | 1.50 | 1.15% |
| R1 | 1.48 | 0.197% |
| Price | 1.48 | |
| S1 | 1.44 | -2.90% |
| S2 | 1.42 | -3.86% |
| S3 | 1.40 | -5.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.75 | 18.24% |
| R2 | 1.55 | 4.73% |
| R1 | 1.52 | 2.70% |
| Price | 1.48 | |
| S1 | 1.47 | -0.676% |
| S2 | 1.46 | -1.35% |
| S3 | 1.45 | -2.03% |
8049 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jul 16, 2024 | HK$0.0675 | 4.56% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | HK$0.553 | 43.22% |
| 3 | Jul 26, 2022 | Jul 26, 2022 | Jul 26, 2022 | HK$0.0732 | 6.54% |
| 4 | Oct 15, 2021 | Oct 15, 2021 | Nov 18, 2021 | HK$0.0275 | 2.37% |
| 5 | Oct 13, 2021 | Oct 13, 2021 | Oct 13, 2021 | HK$0.0275 | 2.46% |
FAQ
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