Hong Kong Exchanges & Clearing Ltd Stock Forecast
Green day on Wednesday for Hong Kong Exchanges & Clearing Ltd
(Updated on Apr 24, 2024)
The Hong Kong Exchanges & Clearing Ltd stock price gained 3.36% on the last trading day (Wednesday, 24th Apr 2024), rising from $29.43 to $30.42. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.99% from a day low at $30.18 to a day high of $30.48. The price has been going up and down for this period, and there has been a 3.68% gain for the last 2 weeks. Volume fell on the last day by -130 thousand shares and in total, 97 thousand shares were bought and sold for approximately $2.96 million. 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 lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $30.70 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.49% during the next 3 months and, with a 90% probability hold a price between $24.89 and $28.09 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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HKXCY Signals & Forecast
The Hong Kong Exchanges & Clearing Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $28.39 and $29.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 10.90%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Hong Kong Exchanges & Clearing Ltd stock
Hong Kong Exchanges & Clearing Ltd finds support from accumulated volume at $29.51 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 $0.300 between high and low, or 0.99%. For the last week, the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $29.41 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (HKXCY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Hong Kong Exchanges & Clearing Ltd to open at $30.36, and during the day (based on 14 day Average True Range), to move between $29.74 and $31.10, which gives a possible trading interval of +/-$0.684 (+/-2.25%) up or down from last closing price. If Hong Kong Exchanges & Clearing Ltd takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.53 (0.36%) than the support at $29.51 (2.99%), 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 Hong Kong Exchanges & Clearing Ltd stock A Buy?
Hong Kong Exchanges & Clearing Ltd 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.
Current score: 0.655 Hold/Accumulate Unchanged
Predicted Opening Price for Hong Kong Exchanges & Clearing Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $30.36 ( 0.197%) | $30.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HKXCY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.66 | 0.789 % | |
| R2 | 30.55 | 0.412 % | ||
| R1 | 30.47 | 0.179 % | ||
| Current price: | 30.42 | |||
| Support | S1 | 30.25 | -0.574 % | |
| S2 | 30.17 | -0.81 % | ||
| S3 | 30.06 | -1.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.98 | 1.84 % | |
| R2 | 30.93 | 1.68 % | ||
| R1 | 30.53 | 0.362 % | ||
| Current price | 30.42 | |||
| Support | S1 | 29.51 | -2.99% | |
| S2 | 29.37 | -3.45% | ||
| S3 | 29.08 | -4.40% |
HKXCY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Mar 13, 2024 | Apr 11, 2024 | $0.450 | 1.51% |
| 2 | Aug 28, 2023 | Aug 28, 2023 | Sep 27, 2023 | $0.575 | 1.55% |
| 3 | May 28, 2023 | Mar 07, 2023 | Apr 06, 2023 | $0.470 | 1.05% |
| 4 | Aug 29, 2022 | Aug 29, 2022 | Aug 29, 2022 | $0.440 | 1.09% |
| 5 | Mar 08, 2022 | Mar 08, 2022 | Mar 08, 2022 | $0.535 | 1.24% |
FAQ
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