Shangri-La Asia Limited Stock Forecast
Green day on Friday for Shangri-La Asia Limited stock after gaining 0.173%
(Updated on May 10, 2024)
The Shangri-La Asia Limited stock price gained 0.173% on the last trading day (Friday, 10th May 2024), rising from HK$5.77 to HK$5.78. During the last trading day the stock fluctuated 2.63% from a day low at HK$5.70 to a day high of HK$5.85. The price has risen in 6 of the last 10 days and is up by 2.3% 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, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately HK$14.80 million.
The stock lies in the middle of a 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 16.85% during the next 3 months and, with a 90% probability hold a price between HK$6.14 and HK$7.02 at the end of this 3-month period.
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0069.HK Signals & Forecast
The Shangri-La Asia 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 HK$5.82. On a fall, the stock will find some support from the long-term average at approximately HK$5.43. 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. Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, May 06, 2024, and so far it has fallen -2.86%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shangri-La Asia Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$5.48 and HK$5.09. 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, Shangri-La Asia Limited finds support just below today's level at HK$5.48. If this is broken, then the next support from accumulated volume will be at HK$5.09 and HK$4.81.
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 HK$0.150 between high and low, or 2.63%. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: HK$5.51 (-4.59%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (0069.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Shangri-La Asia Limited to open at HK$5.78, and during the day (based on 14 day Average True Range), to move between HK$5.61 and HK$5.95, which gives a possible trading interval of +/-HK$0.165 (+/-2.86%) up or down from last closing price. If Shangri-La Asia Limited takes out the full calculated possible swing range there will be an estimated 5.72% 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$5.81 (0.52%) than the support at HK$5.48 (5.19%), 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 Shangri-La Asia 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 Shangri-La Asia Limited stock to perform well in the short-term.
Current score: 2.941 Buy Candidate Unchanged
Predicted Opening Price for Shangri-La Asia Limited of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
HK$5.78 ( 0.0577%) | HK$5.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0069.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.93 | 2.54 % | |
R2 | 5.87 | 1.55 % | ||
R1 | 5.83 | 0.93 % | ||
Current price: | 5.78 | |||
Support | S1 | 5.72 | -1.05 % | |
S2 | 5.68 | -1.66 % | ||
S3 | 5.63 | -2.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.95 | 2.94 % | |
R2 | 5.92 | 2.42 % | ||
R1 | 5.81 | 0.519 % | ||
Current price | 5.78 | |||
Support | S1 | 5.48 | -5.19% | |
S2 | 5.09 | -11.94% | ||
S3 | 4.81 | -16.78% |
0069 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 03, 2024 | Jun 03, 2024 | Jun 14, 2024 | HK$0.150 | 2.60% |
2 | Sep 23, 2019 | Sep 23, 2019 | Sep 23, 2019 | HK$0.0800 | 0.99% |
3 | Jun 10, 2019 | Jun 10, 2019 | Jun 10, 2019 | HK$0.140 | 1.48% |
4 | Sep 24, 2018 | Sep 24, 2018 | Sep 24, 2018 | HK$0.0800 | 0.667% |
5 | Jun 04, 2018 | Jun 04, 2018 | Jun 04, 2018 | HK$0.110 | 0.683% |
FAQ
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