Sun.King Power Electronics Group Limited Stock Forecast
Red day on Wednesday for Sun.King Power Electronics Group Limited
(Updated on May 08, 2024)
The Sun.King Power Electronics Group Limited stock price fell by -2.59% on the last day (Wednesday, 8th May 2024) from HK$1.16 to HK$1.13. During the last trading day the stock fluctuated 5.41% from a day low at HK$1.11 to a day high of HK$1.17. The price has risen in 4 of the last 10 days but is still down by -0.88% for this period. Volume has increased on the last day by 2 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, 3 million shares were bought and sold for approximately HK$3.38 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sun.King Power Electronics Group Limited stock with a 90% probability to be traded between HK$1.06 and HK$1.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0580.HK Signals & Forecast
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. The Sun.King Power Electronics Group Limited 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$1.15 and HK$1.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -11.02%. 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.
Support, Risk & Stop-loss for Sun.King Power Electronics Group Limited stock
Sun.King Power Electronics Group Limited finds support from accumulated volume at HK$1.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0600 between high and low, or 5.41%. For the last week the stock has had daily average volatility of 3.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0580.HK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Sun.King Power Electronics Group Limited to open at HK$1.14, and during the day (based on 14 day Average True Range), to move between HK$1.08 and HK$1.18, which gives a possible trading interval of +/-HK$0.0466 (+/-4.12%) up or down from last closing price. If Sun.King Power Electronics Group Limited takes out the full calculated possible swing range there will be an estimated 8.25% 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$1.14 (0.88%) than the support at HK$1.10 (2.65%), 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 Sun.King Power Electronics Group Limited stock A Buy?
Sun.King Power Electronics Group Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.475 Sell Candidate Unchanged
Predicted Opening Price for Sun.King Power Electronics Group Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| HK$1.14 ( 0.590%) | HK$1.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0580.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 5.90 % | |
| R2 | 1.17 | 3.87 % | ||
| R1 | 1.16 | 2.62 % | ||
| Current price: | 1.13 | |||
| Support | S1 | 1.11 | -1.44 % | |
| S2 | 1.10 | -2.69 % | ||
| S3 | 1.08 | -4.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 6.19 % | |
| R2 | 1.18 | 4.42 % | ||
| R1 | 1.14 | 0.88 % | ||
| Current price | 1.13 | |||
| Support | S1 | 1.10 | -2.65% | |
| S2 | 1.07 | -5.31% | ||
| S3 | 1.06 | -6.19% |
0580 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | HK$0.0300 | 1.00% |
| 2 | Sep 22, 2020 | Sep 22, 2020 | Sep 22, 2020 | HK$0.0200 | 1.06% |
| 3 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | HK$0.0600 | 4.62% |
| 4 | Sep 24, 2019 | Sep 24, 2019 | Sep 24, 2019 | HK$0.0200 | 2.13% |
| 5 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | HK$0.0300 | 2.73% |
FAQ
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