The Sincere Company, Limited Stock Forecast
Evaluation of The Sincere Company, Limited stock downgraded after the last trading session.
(Updated on Jun 20, 2024)
The The Sincere Company, Limited stock price gained 1.41% on the last trading day (Thursday, 20th Jun 2024), rising from HK$0.213 to HK$0.216. During the last trading day the stock fluctuated 5.63% from a day low at HK$0.213 to a day high of HK$0.225. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 411 thousand more shares were traded than the day before. In total, 732 thousand shares were bought and sold for approximately HK$158.11 thousand.
The stock lies in the middle of a 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 -8.16% during the next 3 months and, with a 90% probability hold a price between HK$0.190 and HK$0.204 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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0244.HK Signals & Forecast
There are mixed signals in the stock today. The The Sincere Company, 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$0.217 and HK$0.221. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.41%. 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 Sincere Company, 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.
A buy signal from a double bottom formation was found on Wednesday, June 19, 2024 and based on theory for this formation the price should go up by 2.93% to HK$0.222 within 18 trading days since signal was issued (Tuesday, July 16, 2024).
Support, Risk & Stop-loss for The Sincere Company, Limited stock
The Sincere Company, Limited finds support from accumulated volume at HK$0.215 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0120 between high and low, or 5.63%. For the last week the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0244.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect The Sincere Company, Limited to open at HK$0.218, and during the day (based on 14 day Average True Range), to move between HK$0.211 and HK$0.221, which gives a possible trading interval of +/-HK$0.0050 (+/-2.30%) up or down from last closing price. If The Sincere Company, Limited takes out the full calculated possible swing range there will be an estimated 4.59% 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$0.215 (0.46%) than the resistance at HK$0.220 (1.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Sincere Company, Limited stock A Buy?
The Sincere Company, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.443 Sell Candidate Downgraded
Predicted Opening Price for The Sincere Company, Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.218 ( 0.93%) | HK$0.216 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0244.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.230 | 6.48% |
| R2 | 0.225 | 4.36% |
| R1 | 0.223 | 3.05% |
| Price | 0.216 | |
| S1 | 0.213 | -1.20% |
| S2 | 0.211 | -2.51% |
| S3 | 0.206 | -4.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.239 | 10.65% |
| R2 | 0.225 | 4.17% |
| R1 | 0.220 | 1.85% |
| Price | 0.216 | |
| S1 | 0.215 | -0.463% |
| S2 | 0.214 | -0.93% |
| S3 | 0.213 | -1.39% |
0244 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 01, 2013 | Aug 01, 2013 | Aug 01, 2013 | HK$0.0139 | 2.50% |
| 2 | Jul 29, 2010 | Jul 29, 2010 | Jul 29, 2010 | HK$0.0074 | 1.67% |
| 3 | Jul 26, 2007 | Jul 26, 2007 | Jul 26, 2007 | HK$0.0111 | 1.85% |
FAQ
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