Shanghai Industrial Holdings Limited Stock Forecast
Green day on Friday for Shanghai Industrial Holdings Limited stock after gaining 1.29%
(Updated on Apr 26, 2024)
The Shanghai Industrial Holdings Limited stock price gained 1.29% on the last trading day (Friday, 26th Apr 2024), rising from HK$10.82 to HK$10.96. During the last trading day the stock fluctuated 1.66% from a day low at HK$10.82 to a day high of HK$11.00. The price has risen in 7 of the last 10 days and is up by 2.81% over the past 2 weeks. Volume fell on the last day by -189 thousand shares and in total, 578 thousand shares were bought and sold for approximately HK$6.33 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.64% during the next 3 months and, with a 90% probability hold a price between HK$11.02 and HK$12.75 at the end of this 3-month period.
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0363.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -1.26%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Shanghai Industrial Holdings 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$10.73 and HK$10.45. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Thursday, February 15, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, February 15, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Shanghai Industrial Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$10.36 and HK$10.02. 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, Shanghai Industrial Holdings Limited finds support just below today's level at HK$10.36. If this is broken, then the next support from accumulated volume will be at HK$10.02 and HK$9.97.
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$0.180 between high and low, or 1.66%. For the last week, the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: HK$10.58 (-3.48%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (0363.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Shanghai Industrial Holdings Limited to open at HK$10.93, and during the day (based on 14 day Average True Range), to move between HK$10.71 and HK$11.21, which gives a possible trading interval of +/-HK$0.254 (+/-2.31%) up or down from last closing price. If Shanghai Industrial Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.63% 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$11.10 (1.28%) than the support at HK$10.36 (5.47%), 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 Shanghai Industrial Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shanghai Industrial Holdings Limited stock to perform well in the short-term.
Current score: 4.288 Buy Candidate Unchanged
Predicted Opening Price for Shanghai Industrial Holdings Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
HK$10.93 ( 0.304%) | HK$10.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0363.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.11 | 1.34 % | |
R2 | 11.04 | 0.711 % | ||
R1 | 11.00 | 0.323 % | ||
Current price: | 10.96 | |||
Support | S1 | 10.86 | -0.93 % | |
S2 | 10.82 | -1.32 % | ||
S3 | 10.75 | -1.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 11.10 | 1.28 % | ||
Current price | 10.96 | |||
Support | S1 | 10.36 | -5.47% | |
S2 | 10.02 | -8.58% | ||
S3 | 9.97 | -9.03% |
0363 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 30, 2024 | May 30, 2024 | Jun 14, 2024 | HK$0.520 | 4.75% |
2 | Sep 22, 2023 | Sep 22, 2023 | Sep 22, 2023 | HK$0.420 | 4.17% |
3 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | HK$0.500 | 4.83% |
4 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | HK$0.420 | 4.34% |
5 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.540 | 4.70% |
FAQ
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