Shun Tak Holdings Limited Stock Forecast
Red day on Friday for Shun Tak Holdings Limited
(Updated on Apr 26, 2024)
No changes to the price of Shun Tak Holdings Limited stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 2.82% from a day low at HK$0.710 to a day high of HK$0.730. The price has fallen in 4 of the last 10 days and is down by -1.37% for this period.
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 -11.85% during the next 3 months and, with a 90% probability hold a price between HK$0.586 and HK$0.710 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0242.HK Signals & Forecast
There are mixed signals in the stock today. The Shun Tak Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.723 and HK$0.765. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.88%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely.
Support, Risk & Stop-loss for Shun Tak Holdings Limited stock
Shun Tak Holdings Limited finds support from accumulated volume at HK$0.710 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$0.0200 between high and low, or 2.82%. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0242.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Shun Tak Holdings Limited to open at HK$0.720, and during the day (based on 14 day Average True Range), to move between HK$0.689 and HK$0.751, which gives a possible trading interval of +/-HK$0.0307 (+/-4.26%) up or down from last closing price. If Shun Tak Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.710 (1.39%) than the resistance at HK$0.80 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shun Tak Holdings Limited stock A Buy?
Shun Tak Holdings 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: -1.890 Sell Candidate Unchanged
Predicted Opening Price for Shun Tak Holdings Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$0.720 ( 0.00000000%) | HK$0.720 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0242.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.740 | 2.78 % | |
| R2 | 0.732 | 1.72 % | ||
| R1 | 0.728 | 1.06 % | ||
| Current price: | 0.720 | |||
| Support | S1 | 0.712 | -1.06 % | |
| S2 | 0.708 | -1.72 % | ||
| S3 | 0.700 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.85 | 18.06 % | |
| R2 | 0.83 | 15.28 % | ||
| R1 | 0.80 | 11.11 % | ||
| Current price | 0.720 | |||
| Support | S1 | 0.710 | -1.39% | |
| S2 | 0.690 | -4.17% | ||
| S3 | 0.680 | -5.56% |
0242 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | HK$0.180 | 6.25% |
| 2 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | HK$0.0600 | 1.92% |
| 3 | Jul 04, 2018 | Jul 04, 2018 | Jul 04, 2018 | HK$0.0600 | 1.99% |
| 4 | Sep 14, 2017 | Sep 14, 2017 | Sep 14, 2017 | HK$0.0600 | 1.75% |
| 5 | Jun 10, 2016 | Jun 10, 2016 | Jun 10, 2016 | HK$0.0200 | 0.87% |
FAQ
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