Shanghai Industrial Urban Development Stock Forecast

Weaker technical forecast for Shanghai Industrial Urban Development as stock downgraded to Strong Sell Candidate.
(Updated on May 29, 2024)

0563.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Shanghai Industrial Urban Development stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.479 and HK$0.472. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -13.21%. 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). Shanghai Industrial Urban Development gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0150 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 2.14%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0563.HK) For The Upcoming Trading Day Of Thursday 30th

For the upcoming trading day on Thursday, 30th we expect Shanghai Industrial Urban Development Group Limited to open at HK$0.465, and during the day (based on 14 day Average True Range), to move between HK$0.443 and HK$0.477, which gives a possible trading interval of +/-HK$0.0173 (+/-3.76%) 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 7.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.435 (5.43%) than the resistance at HK$0.500 (8.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shanghai Industrial Urban Development Group Limited stock A Buy?

The Shanghai Industrial Urban Development stock holds several negative signals and despite the positive trend, we believe Shanghai Industrial Urban Development will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.067 Strong Sell Candidate Downgraded

Predicted Opening Price for Shanghai Industrial Urban Development Group Limited of Thursday, May 30, 2024

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