The Hong Kong and China Gas Company Ltd Stock Forecast
The Hong Kong and China Gas Company Ltd stock downgraded to Sell Candidate
(Updated on Mar 28, 2024)
The The Hong Kong and China Gas Company Ltd stock price fell by -3.39% on the last day (Thursday, 28th Mar 2024) from $0.738 to $0.713. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.62% from a day low at $0.704 to a day high of $0.715. The price has fallen in 6 of the last 10 days and is down by -0.86% for this period. Volume has increased on the last day by 12 million 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, 12 million shares were bought and sold for approximately $8.79 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.698 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.82% during the next 3 months and, with a 90% probability hold a price between $0.752 and $0.87 at the end of this 3-month period.
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HOKCY Signals & Forecast
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 The Hong Kong and China Gas Company 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 $0.753 and $0.721. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -10.94%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for The Hong Kong and China Gas Company Ltd stock
The Hong Kong and China Gas Company Ltd finds support from accumulated volume at $0.711 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0114 between high and low, or 1.62%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HOKCY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect The Hong Kong and China Gas Company Ltd to open at $0.710, and during the day (based on 14 day Average True Range), to move between $0.683 and $0.742, which gives a possible trading interval of +/-$0.0294 (+/-4.13%) up or down from last closing price. If The Hong Kong and China Gas Company Ltd takes out the full calculated possible swing range there will be an estimated 8.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.711 (0.18%) than the resistance at $0.725 (1.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Hong Kong and China Gas Company Ltd stock A Buy?
The The Hong Kong and China Gas Company Ltd stock holds several negative signals and despite the positive trend, we believe The Hong Kong and China Gas Company Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.758 Sell Candidate Downgraded
Predicted Opening Price for The Hong Kong and China Gas Company Ltd of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.710 ( 0.300%) | $0.713 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HOKCY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.722 | 1.30 % | |
R2 | 0.717 | 0.690 % | ||
R1 | 0.715 | 0.312 % | ||
Current price: | 0.713 | |||
Support | S1 | 0.706 | -0.91 % | |
S2 | 0.703 | -1.29 % | ||
S3 | 0.699 | -1.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.765 | 7.37 % | |
R2 | 0.753 | 5.74 % | ||
R1 | 0.725 | 1.75 % | ||
Current price | 0.713 | |||
Support | S1 | 0.711 | -0.182% | |
S2 | 0.705 | -1.05% | ||
S3 | 0.689 | -3.31% |
HOKCY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 25, 2024 | Jun 06, 2024 | Jul 01, 2024 | $0.0235 | 3.30% |
2 | Jun 05, 2024 | Jun 05, 2024 | Jul 01, 2024 | $0.0235 | 3.30% |
3 | Aug 17, 2023 | Aug 25, 2023 | Sep 15, 2023 | $0.0150 | 2.23% |
4 | Jun 02, 2023 | Jun 08, 2023 | Jul 03, 2023 | $0.0290 | 3.49% |
5 | Aug 27, 2022 | Aug 31, 2022 | Sep 22, 2022 | $0.0150 | 1.72% |
FAQ
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