Sunwah Kingsway Capital Holdings Limited Stock Forecast

Sunwah Kingsway Capital Holdings Limited stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)

0188.HK Signals & Forecast

The Sunwah Kingsway Capital Holdings 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$0.230. On a fall, the stock will find some support from the long-term average at approximately HK$0.228. 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. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 4.57%. 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). Sunwah Kingsway Capital Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Sunwah Kingsway Capital Holdings Limited stock

Sunwah Kingsway Capital Holdings Limited finds support from accumulated volume at HK$0.222 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.639%.

Our recommended stop-loss: HK$0.219 (-4.51%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (0188.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Sunwah Kingsway Capital Holdings Limited to open at HK$0.229, and during the day (based on 14 day Average True Range), to move between HK$0.223 and HK$0.235, which gives a possible trading interval of +/-HK$0.0062 (+/-2.69%) up or down from last closing price. If Sunwah Kingsway Capital Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.38% 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$0.232 (1.31%) than the support at HK$0.222 (3.06%), 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 Sunwah Kingsway Capital Holdings Limited stock A Buy?

Sunwah Kingsway Capital Holdings Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Sunwah Kingsway Capital Holdings Limited of Friday, June 21, 2024

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