Chi Ho Development Holdings Limited Stock Forecast
Chi Ho Development Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Chi Ho Development Holdings Limited stock price gained 1.75% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.0570 to HK$0.0580. During the last trading day the stock fluctuated 1.75% from a day low at HK$0.0570 to a day high of HK$0.0580. The price has fallen in 4 of the last 10 days and is down by -1.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 160 thousand more shares were traded than the day before. In total, 290 thousand shares were bought and sold for approximately HK$16.82 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 -11.15% during the next 3 months and, with a 90% probability hold a price between HK$0.0493 and HK$0.0545 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
There are mixed signals in the stock today. 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$0.0580 and HK$0.0595. A break-up above any of these levels will issue buy signals. 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). Chi Ho Development Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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$0.0010 between high and low, or 1.75%. For the last week the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: HK$0.0546 (-5.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (8423.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd 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$0.0560 and HK$0.0600, which gives a possible trading interval of +/-HK$0.0020 (+/-3.42%) 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 6.84% 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.929 Hold/Accumulate Upgraded
Predicted Opening Price for Chi Ho Development Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 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 | 0.0587 | 1.15% |
| R2 | 0.0583 | 0.491% |
| R1 | 0.0580 | 0.0839% |
| Price | 0.0580 | |
| S1 | 0.0573 | -1.23% |
| S2 | 0.0570 | -1.64% |
| S3 | 0.0567 | -2.30% |
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% |
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