SOHO China Limited Stock Forecast

SOHO China Limited stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)

0410.HK Signals & Forecast

The SOHO China 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$0.739 and HK$0.678. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 20.31%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.

Support, Risk & Stop-loss for SOHO China Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.720 and HK$0.660. 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, SOHO China Limited finds support just below today's level at HK$0.720. If this is broken, then the next support from accumulated volume will be at HK$0.660 and HK$0.650.

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$0.0300 between high and low, or 4.00%. For the last week the stock has had daily average volatility of 5.84%.

The SOHO China Limited stock is extremely overbought on RSI14 (76). 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$0.738 (-4.17%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (0410.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect SOHO China Limited to open at HK$0.767, and during the day (based on 14 day Average True Range), to move between HK$0.734 and HK$0.81, which gives a possible trading interval of +/-HK$0.0359 (+/-4.66%) up or down from last closing price. If SOHO China Limited takes out the full calculated possible swing range there will be an estimated 9.33% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.720, some HK$0.0500 (6.49%) from the current price of HK$0.770, our system finds the risk reward attractive.

Is SOHO China Limited stock A Buy?

SOHO China Limited holds several positive signals and has broken the wide and horizontal trend up. As the stock is in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.011 Strong Buy Candidate Upgraded

Predicted Opening Price for SOHO China Limited of Monday, May 6, 2024

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