Sun Hung Kai & Co. Limited Stock Forecast

Stronger technical forecast for Sun Hung Kai & Co. Limited stock price after Friday trading.
(Updated on May 10, 2024)

0086.HK Signals & Forecast

Mostly positive signals in the chart today. The Sun Hung Kai & Co. Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$2.44 and HK$2.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 9.21%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Sun Hung Kai & Co. Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$2.27 and HK$2.25. 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, Sun Hung Kai & Co. Limited finds support just below today's level at HK$2.27. If this is broken, then the next support from accumulated volume will be at HK$2.25 and HK$2.17.

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$0.100 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 2.48%.

Our recommended stop-loss: HK$2.38 (-4.25%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (0086.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Sun Hung Kai & Co. Limited to open at HK$2.49, and during the day (based on 14 day Average True Range), to move between HK$2.43 and HK$2.55, which gives a possible trading interval of +/-HK$0.0642 (+/-2.58%) up or down from last closing price. If Sun Hung Kai & Co. Limited takes out the full calculated possible swing range there will be an estimated 5.16% 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$2.53 (1.61%) than the support at HK$2.27 (8.84%), 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 Sun Hung Kai & Co. Limited stock A Buy?

Sun Hung Kai & Co. Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.948 Strong Buy Candidate Upgraded

Predicted Opening Price for Sun Hung Kai & Co. Limited of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.