Starlite Holdings Limited Stock Forecast
High volatility in Starlite Holdings Limited stock price on Tuesday which ended trading at HK$0.203
(Updated on Apr 23, 2024)
The Starlite Holdings Limited stock price gained 11.54% on the last trading day (Tuesday, 23rd Apr 2024), rising from HK$0.182 to HK$0.203. During the last trading day the stock fluctuated 12.78% from a day low at HK$0.180 to a day high of HK$0.203. The price has fallen in 6 of the last 10 days but is still up by 7.41% over the past 2 weeks. Volume fell on the last day by -120 thousand shares and in total, 8 thousand shares were bought and sold for approximately HK$1.62 thousand. 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at HK$0.208 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Starlite Holdings Limited stock with a 90% probability to be traded between HK$0.174 and HK$0.205 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0403.HK Signals & Forecast
The Starlite Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.191 and HK$0.194. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 11.54%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Starlite Holdings Limited stock
Starlite Holdings Limited finds support from accumulated volume at HK$0.200 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0230 between high and low, or 12.78%. For the last week the stock has had daily average volatility of 8.13%.
Our recommended stop-loss: HK$0.196 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (0403.HK) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Starlite Holdings Limited to open at HK$0.195, and during the day (based on 14 day Average True Range), to move between HK$0.192 and HK$0.214, which gives a possible trading interval of +/-HK$0.0106 (+/-5.23%) up or down from last closing price. If Starlite Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.46% 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$0.205 (0.99%) than the support at HK$0.200 (1.48%), 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 Starlite Holdings Limited stock A Buy?
Starlite Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.174 Hold/Accumulate Upgraded
Predicted Opening Price for Starlite Holdings Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| HK$0.195 ( 3.78%) | HK$0.203 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0403.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.218 | 7.55 % | |
| R2 | 0.210 | 3.23 % | ||
| R1 | 0.204 | 0.551 % | ||
| Current price: | 0.203 | |||
| Support | S1 | 0.187 | -8.10 % | |
| S2 | 0.181 | -10.78 % | ||
| S3 | 0.172 | -15.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.210 | 3.45 % | |
| R2 | 0.207 | 1.97 % | ||
| R1 | 0.205 | 0.99 % | ||
| Current price | 0.203 | |||
| Support | S1 | 0.200 | -1.48% | |
| S2 | 0.194 | -4.43% | ||
| S3 | 0.182 | -10.34% |
0403 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 05, 2024 | Jan 05, 2024 | Jan 05, 2024 | HK$0 | 0% |
| 2 | Jan 06, 2023 | Jan 06, 2023 | Jan 06, 2023 | HK$0.0100 | 4.31% |
| 3 | Dec 16, 2021 | Dec 16, 2021 | Dec 16, 2021 | HK$0.100 | 30.77% |
| 4 | Aug 28, 2020 | Aug 28, 2020 | Aug 28, 2020 | HK$0.0500 | 14.71% |
| 5 | Dec 30, 2016 | Dec 30, 2016 | Dec 30, 2016 | HK$0.0100 | 1.52% |
FAQ
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