Shirble Department Store Holdings Stock Forecast

Shirble Department Store Holdings stock price took a fall of -13.04% on Tuesday
(Updated on May 21, 2024)

0312.HK Signals & Forecast

The Shirble Department Store Holdings 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$0.0440. On a fall, the stock will find some support from the long-term average at approximately HK$0.0383. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -14.89%. Further fall is indicated until a new bottom pivot has been found. Shirble Department Store Holdings gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shirble Department Store Holdings stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0370 and HK$0.0360. 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, Shirble Department Store Holdings finds support just below today's level at HK$0.0370. If this is broken, then the next support from accumulated volume will be at HK$0.0360 and HK$0.0350.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0020 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 10.57%.

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

Trading Expectations (0312.HK) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Shirble Department Store Holdings (China) Limited to open at HK$0.0407, and during the day (based on 14 day Average True Range), to move between HK$0.0351 and HK$0.0449, which gives a possible trading interval of +/-HK$0.0049 (+/-12.13%) up or down from last closing price. If Shirble Department Store Holdings (China) Limited takes out the full calculated possible swing range there will be an estimated 24.26% 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$0.0430 (7.50%) than the support at HK$0.0370 (7.50%), 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 Shirble Department Store Holdings (China) Limited stock A Buy?

Shirble Department Store Holdings 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: -1.787 Sell Candidate Downgraded

Predicted Opening Price for Shirble Department Store Holdings (China) Limited of Wednesday, May 22, 2024

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