Asia Standard International Group Ltd Stock Forecast
Evaluation of Asia Standard International Group Ltd stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Asia Standard International Group Ltd stock price fell by -4.76% on the last day (Friday, 17th May 2024) from HK$0.420 to HK$0.400. During the last trading day the stock fluctuated 7.69% from a day low at HK$0.390 to a day high of HK$0.420. The price has risen in 5 of the last 10 days and is up by 9.59% over the past 2 weeks. Volume has increased on the last day by 145 thousand 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, 253 thousand shares were bought and sold for approximately HK$101.00 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.10% during the next 3 months and, with a 90% probability hold a price between HK$0.351 and HK$0.407 at the end of this 3-month period.
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0129.HK 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 Asia Standard International Group 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 HK$0.404 and HK$0.400. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -4.76%. Further fall is indicated until a new bottom pivot has been found. Asia Standard International Group Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 16.25% to HK$0.465 within 2 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Asia Standard International Group Ltd stock
Asia Standard International Group Ltd finds support from accumulated volume at HK$0.390 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 HK$0.0300 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 4.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0129.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Asia Standard International Group Limited to open at HK$0.403, and during the day (based on 14 day Average True Range), to move between HK$0.380 and HK$0.420, which gives a possible trading interval of +/-HK$0.0204 (+/-5.11%) up or down from last closing price. If Asia Standard International Group Limited takes out the full calculated possible swing range there will be an estimated 10.21% 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$0.410 (2.50%) than the support at HK$0.390 (2.50%), 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 Asia Standard International Group Limited stock A Buy?
Asia Standard International Group Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Buy to a Strong Sell candidate.
Current score: -5.419 Strong Sell Candidate Downgraded
Predicted Opening Price for Asia Standard International Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.403 ( 0.83%) | HK$0.400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0129.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.433 | 8.33 % | |
| R2 | 0.422 | 5.47 % | ||
| R1 | 0.415 | 3.70 % | ||
| Current price: | 0.400 | |||
| Support | S1 | 0.392 | -2.03 % | |
| S2 | 0.385 | -3.80 % | ||
| S3 | 0.373 | -6.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.420 | 5.00 % | |
| R2 | 0.415 | 3.75 % | ||
| R1 | 0.410 | 2.50 % | ||
| Current price | 0.400 | |||
| Support | S1 | 0.390 | -2.50% | |
| S2 | 0.380 | -5.00% | ||
| S3 | 0.375 | -6.25% |
0129 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 31, 2021 | Aug 31, 2021 | Aug 31, 2021 | HK$0.0300 | 2.91% |
| 2 | Sep 03, 2019 | Sep 03, 2019 | Sep 03, 2019 | HK$0.0270 | 2.20% |
| 3 | Sep 03, 2018 | Sep 03, 2018 | Sep 03, 2018 | HK$0.0300 | 1.78% |
| 4 | Sep 01, 2017 | Sep 01, 2017 | Sep 01, 2017 | HK$0.0300 | 1.41% |
| 5 | Sep 13, 2016 | Sep 13, 2016 | Sep 13, 2016 | HK$0.0350 | 2.11% |
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