First Shanghai Investments Limited Stock Forecast

Green day on Thursday for First Shanghai Investments Limited stock after gaining 3.70%
(Updated on Jun 20, 2024)

0227.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 5.26%. Further rise is indicated until a new top pivot has been found. First Shanghai Investments 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Shanghai Investments Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.142. On a fall, the stock will find some support from the short-term average at HK$0.136. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for First Shanghai Investments Limited stock

First Shanghai Investments Limited finds support from accumulated volume at HK$0.136 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$0.0090 between high and low, or 6.62%. For the last week, the stock has had daily average volatility of 4.48%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0227.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect First Shanghai Investments Limited to open at HK$0.140, and during the day (based on 14 day Average True Range), to move between HK$0.132 and HK$0.148, which gives a possible trading interval of +/-HK$0.0078 (+/-5.57%) up or down from last closing price. If First Shanghai Investments Limited takes out the full calculated possible swing range there will be an estimated 11.14% 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$0.144 (2.86%) than the support at HK$0.136 (2.86%), 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 First Shanghai Investments Limited stock A Buy?

First Shanghai Investments Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.265 Sell Candidate Unchanged

Predicted Opening Price for First Shanghai Investments Limited of Friday, June 21, 2024

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