Choppies Enterprises Limited Stock Forecast
Volatile ride for Choppies Enterprises Limited stock price on Thursday moving between $62.00 and $69.00
(Updated on Jun 27, 2024)
The Choppies Enterprises Limited stock price gained 9.84% on the last trading day (Thursday, 27th Jun 2024), rising from $61.00 to $67.00. During the last trading day the stock fluctuated 11.29% from a day low at $62.00 to a day high of $69.00. The price has fallen in 5 of the last 10 days but is still up by 21.82% 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, 4 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $443.67 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.64% during the next 3 months and, with a 90% probability hold a price between $62.26 and $88.11 at the end of this 3-month period.
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CHP.JO Signals & Forecast
The Choppies Enterprises Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $68.86. On a fall, the stock will find some support from the long-term average at approximately $59.97. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Choppies Enterprises 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. Higher liquidity also reduces the general risk. 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 Thursday, June 20, 2024, and so far it has fallen -15.19%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Choppies Enterprises Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $59.00 and $57.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Choppies Enterprises Limited finds support just below today's level at $59.00. If this is broken, then the next support from accumulated volume will be at $57.00 and $55.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $7.00 between high and low, or 11.29%. For the last week, the stock has had daily average volatility of 14.21%.
Our recommended stop-loss: $63.09 (-5.84%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (CHP.JO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Choppies Enterprises Limited to open at $66.00, and during the day (based on 14 day Average True Range), to move between $60.76 and $73.24, which gives a possible trading interval of +/-$6.24 (+/-9.32%) up or down from last closing price. If Choppies Enterprises Limited takes out the full calculated possible swing range there will be an estimated 18.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $68.00 (1.49%) than the support at $59.00 (11.94%), 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 Choppies Enterprises Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Choppies Enterprises Limited stock to perform well in the short-term.
Current score: 2.583 Buy Candidate Unchanged
Predicted Opening Price for Choppies Enterprises Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $66.00 ( 1.49%) | $67.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHP.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 73.00 | 8.96% |
| R2 | 70.33 | 4.96% |
| R1 | 68.67 | 2.50% |
| Price | 67.00 | |
| S1 | 63.33 | -5.48% |
| S2 | 61.67 | -7.95% |
| S3 | 59.00 | -11.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 79.00 | 17.91% |
| R2 | 75.00 | 11.94% |
| R1 | 68.00 | 1.49% |
| Price | 67.00 | |
| S1 | 59.00 | -11.94% |
| S2 | 57.00 | -14.93% |
| S3 | 55.00 | -17.91% |
CHP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | Apr 03, 2024 | Apr 16, 2024 | $2.15 | 3.76% |
| 2 | Oct 18, 2017 | Oct 18, 2017 | Oct 18, 2017 | $2.15 | 0.715% |
| 3 | Oct 19, 2016 | Oct 19, 2016 | Oct 19, 2016 | $2.83 | 0.689% |
| 4 | Oct 19, 2015 | Oct 19, 2015 | Oct 19, 2015 | $4.88 | 0.87% |
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