Shanghai Industrial Urban Development Stock Forecast

Red day on Tuesday for Shanghai Industrial Urban Development
(Updated on May 07, 2024)

0563.HK Signals & Forecast

The Shanghai Industrial Urban Development 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$0.492 and HK$0.442. A breakdown below any of these levels will issue sell signals. 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 Friday, May 03, 2024, and so far it has fallen -2.94%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Shanghai Industrial Urban Development stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.435 and HK$0.420. 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 Urban Development finds support just below today's level at HK$0.435. If this is broken, then the next support from accumulated volume will be at HK$0.420 and HK$0.395.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0150 between high and low, or 3.09%. For the last week the stock has had daily average volatility of 3.50%.

Our recommended stop-loss: HK$0.473 (-4.48%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (0563.HK) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Shanghai Industrial Urban Development Group Limited to open at HK$0.493, and during the day (based on 14 day Average True Range), to move between HK$0.476 and HK$0.514, which gives a possible trading interval of +/-HK$0.0189 (+/-3.83%) up or down from last closing price. If Shanghai Industrial Urban Development Group Limited takes out the full calculated possible swing range there will be an estimated 7.65% 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$0.510 (3.03%) than the support at HK$0.435 (12.12%), 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 Urban Development Group 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 Urban Development stock to perform well in the short-term.

Current score: 1.420 Buy Candidate Unchanged

Predicted Opening Price for Shanghai Industrial Urban Development Group Limited of Wednesday, May 8, 2024

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