Hang Lung Properties Ltd Stock Forecast
Hang Lung Properties Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 10, 2024)
The Hang Lung Properties Ltd stock price gained 2.98% on the last trading day (Friday, 10th May 2024), rising from $5.03 to $5.18. During the last trading day the stock fluctuated 7.57% from a day low at $5.02 to a day high of $5.40. The price has fallen in 5 of the last 10 days and is down by -5.3% for this period. Volume fell on the last day by -278 thousand shares and in total, 94 thousand shares were bought and sold for approximately $486.75 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $5.03 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Hang Lung Properties Ltd stock with a 90% probability to be traded between $5.11 and $6.08 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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HLPPY Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 2.98%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hang Lung Properties Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $5.46 and $5.33. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not.
Support, Risk & Stop-loss for Hang Lung Properties Ltd stock
Hang Lung Properties Ltd finds support from accumulated volume at $5.16 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.380 between high and low, or 7.57%. For the last week the stock has had daily average volatility of 4.58%.
Our recommended stop-loss: $4.94 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (HLPPY) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Hang Lung Properties Ltd to open at $5.20, and during the day (based on 14 day Average True Range), to move between $4.96 and $5.40, which gives a possible trading interval of +/-$0.219 (+/-4.23%) up or down from last closing price. If Hang Lung Properties Ltd takes out the full calculated possible swing range there will be an estimated 8.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.16 (0.39%) than the resistance at $5.20 (0.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hang Lung Properties Ltd stock A Buy?
Hang Lung Properties Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.775 Hold/Accumulate Upgraded
Predicted Opening Price for Hang Lung Properties Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $5.20 ( 0.386%) | $5.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HLPPY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.58 | 7.72 % | |
| R2 | 5.43 | 4.92 % | ||
| R1 | 5.35 | 3.19 % | ||
| Current price: | 5.18 | |||
| Support | S1 | 5.05 | -2.42 % | |
| S2 | 4.97 | -4.15 % | ||
| S3 | 4.82 | -6.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.24 | 1.16 % | |
| R2 | 5.23 | 0.97 % | ||
| R1 | 5.20 | 0.386 % | ||
| Current price | 5.18 | |||
| Support | S1 | 5.16 | -0.386% | |
| S2 | 5.15 | -0.579% | ||
| S3 | 5.03 | -2.90% |
HLPPY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | Jun 24, 2024 | $0.364 | 7.02% |
| 2 | Aug 12, 2023 | Sep 11, 2023 | Oct 10, 2023 | $0.102 | 1.45% |
| 3 | Aug 01, 2023 | May 02, 2023 | May 30, 2023 | $0.383 | 4.86% |
| 4 | Sep 02, 2022 | Sep 09, 2022 | Oct 10, 2022 | $0.115 | 1.37% |
| 5 | Apr 23, 2022 | Apr 29, 2022 | May 31, 2022 | $0.385 | 4.16% |
FAQ
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