China Shandong Hi-Speed Financial Group Stock Forecast
China Shandong Hi-Speed Financial Group stock price ended at HK$5.88 on Friday, after losing 0.508%.
(Updated on May 31, 2024)
The China Shandong Hi-Speed Financial Group stock price fell by -0.508% on the last day (Friday, 31st May 2024) from HK$5.91 to HK$5.88. During the last trading day the stock fluctuated 3.92% from a day low at HK$5.86 to a day high of HK$6.09. The price has fallen in 7 of the last 10 days and is down by -13.15% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately HK$24.41 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$5.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.89% during the next 3 months and, with a 90% probability hold a price between HK$6.95 and HK$9.79 at the end of this 3-month period.
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0412.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Shandong Hi-Speed Financial Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$5.92 and HK$6.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -25.48%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Shandong Hi-Speed Financial Group stock
China Shandong Hi-Speed Financial Group finds support from accumulated volume at HK$5.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.230 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 4.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0412.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect China Shandong Hi-Speed Financial Group Limited to open at HK$5.94, and during the day (based on 14 day Average True Range), to move between HK$5.52 and HK$6.24, which gives a possible trading interval of +/-HK$0.361 (+/-6.13%) up or down from last closing price. If China Shandong Hi-Speed Financial Group Limited takes out the full calculated possible swing range there will be an estimated 12.27% 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$5.98 (1.70%) than the support at HK$5.69 (3.23%), 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 China Shandong Hi-Speed Financial Group Limited stock A Buy?
The China Shandong Hi-Speed Financial Group stock holds several negative signals and despite the positive trend, we believe China Shandong Hi-Speed Financial Group will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.952 Sell Candidate Unchanged
Predicted Opening Price for China Shandong Hi-Speed Financial Group Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$5.94 ( 1.08%) | HK$5.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0412.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.17 | 4.99 % | |
| R2 | 6.09 | 3.49 % | ||
| R1 | 6.03 | 2.57 % | ||
| Current price: | 5.88 | |||
| Support | S1 | 5.86 | -0.417 % | |
| S2 | 5.80 | -1.34 % | ||
| S3 | 5.71 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.32 | 24.49 % | |
| R2 | 6.11 | 3.91 % | ||
| R1 | 5.98 | 1.70 % | ||
| Current price | 5.88 | |||
| Support | S1 | 5.69 | -3.23% | |
| S2 | 5.46 | -7.14% | ||
| S3 | 5.25 | -10.71% |
FAQ
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