Shui On Land Limited Stock Forecast

On Friday, Shui On Land Limited stock price gained an impressive 5.41%
(Updated on May 10, 2024)

0272.HK Signals & Forecast

Mostly positive signals in the chart today. The Shui On Land Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.741 and HK$0.691. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 20.00%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 with a target of HK$0.713. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Shui On Land Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.740 and HK$0.670. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shui On Land Limited finds support just below today's level at HK$0.740. If this is broken, then the next support from accumulated volume will be at HK$0.670 and HK$0.660.

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$0.0600 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 3.33%.

The Shui On Land Limited stock is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$0.747 (-4.20%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (0272.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Shui On Land Limited to open at HK$0.760, and during the day (based on 14 day Average True Range), to move between HK$0.757 and HK$0.80, which gives a possible trading interval of +/-HK$0.0230 (+/-2.94%) up or down from last closing price. If Shui On Land Limited takes out the full calculated possible swing range there will be an estimated 5.89% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.740, some HK$0.0400 (5.13%) from the current price of HK$0.780, our system finds the risk reward attractive.

Is Shui On Land Limited stock A Buy?

Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Shui On Land Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.104 Buy Candidate Upgraded

Predicted Opening Price for Shui On Land Limited of Monday, May 13, 2024

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