Chi Ho Development Holdings Limited Stock Forecast
Red day on Wednesday for Chi Ho Development Holdings Limited
(Updated on Jun 26, 2024)
The Chi Ho Development Holdings Limited stock price fell by -1.69% on the last day (Wednesday, 26th Jun 2024) from HK$0.0590 to HK$0.0580. During the last trading day the stock fluctuated 5.36% from a day low at HK$0.0560 to a day high of HK$0.0590. The price has risen in 4 of the last 10 days and is up by 1.75% over the past 2 weeks. Volume has increased on the last day by 260 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 370 thousand shares were bought and sold for approximately HK$21.46 thousand.
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 -12.01% during the next 3 months and, with a 90% probability hold a price between HK$0.0489 and HK$0.0540 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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8423.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 1.75%. 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 Chi Ho Development Holdings 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$0.0581 and HK$0.0598. A break-up above any of these levels will issue buy signals. Chi Ho Development Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chi Ho Development Holdings Limited stock
Chi Ho Development Holdings Limited finds support from accumulated volume at HK$0.0570 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0030 between high and low, or 5.36%. For the last week the stock has had daily average volatility of 3.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8423.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Chi Ho Development Holdings Limited to open at HK$0.0577, and during the day (based on 14 day Average True Range), to move between HK$0.0559 and HK$0.0601, which gives a possible trading interval of +/-HK$0.0021 (+/-3.69%) up or down from last closing price. If Chi Ho Development Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.38% 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$0.0590 (1.72%) than the support at HK$0.0570 (1.72%), 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 Chi Ho Development Holdings Limited stock A Buy?
Chi Ho Development Holdings Limited holds several negative signals and is within a 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: -2.934 Sell Candidate Unchanged
Predicted Opening Price for Chi Ho Development Holdings Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.0577 ( 0.575%) | HK$0.0580 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8423.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0607 | 4.60% |
| R2 | 0.0595 | 2.62% |
| R1 | 0.0588 | 1.40% |
| Price | 0.0580 | |
| S1 | 0.0565 | -2.55% |
| S2 | 0.0558 | -3.77% |
| S3 | 0.0547 | -5.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0610 | 5.17% |
| R2 | 0.0600 | 3.45% |
| R1 | 0.0590 | 1.72% |
| Price | 0.0580 | |
| S1 | 0.0570 | -1.72% |
| S2 | 0 | - |
| S3 | 0 | - |
8423 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 25, 2022 | Nov 25, 2022 | Jan 09, 2023 | HK$0.0025 | 5.00% |
| 2 | Aug 23, 2021 | Aug 23, 2021 | Oct 08, 2021 | HK$0.0025 | 0.88% |
| 3 | Aug 24, 2020 | Aug 24, 2020 | Oct 09, 2020 | HK$0.0025 | 1.00% |
| 4 | Nov 08, 2019 | Nov 21, 2019 | Jan 06, 2020 | HK$0.0050 | 1.14% |
FAQ
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