Dah Sing Financial Holdings Limited Stock Forecast

Dah Sing Financial Holdings Limited stock downgraded to Hold/Accumulate
(Updated on Apr 18, 2024)

0440.HK Signals & Forecast

The Dah Sing Financial Holdings Limited 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$20.36. On a fall, the stock will find some support from the long-term average at approximately HK$17.65. 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 Thursday, April 11, 2024, and so far it has fallen -4.07%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the short-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 Dah Sing Financial Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$16.48 and HK$16.04. 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, Dah Sing Financial Holdings Limited finds support just below today's level at HK$16.48. If this is broken, then the next support from accumulated volume will be at HK$16.04 and HK$15.56.

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$0.570 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 2.84%.

Our recommended stop-loss: HK$19.32 (-3.66%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (0440.HK) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Dah Sing Financial Holdings Limited to open at HK$20.19, and during the day (based on 14 day Average True Range), to move between HK$19.45 and HK$20.65, which gives a possible trading interval of +/-HK$0.600 (+/-2.99%) up or down from last closing price. If Dah Sing Financial Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.99% 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$20.15 (0.50%) than the support at HK$16.48 (17.81%), 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 Dah Sing Financial Holdings Limited stock A Buy?

Dah Sing Financial 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.578 Hold/Accumulate Downgraded

Predicted Opening Price for Dah Sing Financial Holdings Limited of Friday, April 19, 2024

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