Shenzhen Investment Holdings Bay Area Stock Forecast
Weaker technical forecast for Shenzhen Investment Holdings Bay Area as stock downgraded to Sell Candidate.
(Updated on Jun 20, 2024)
The Shenzhen Investment Holdings Bay Area stock price fell by -1.66% on the last day (Thursday, 20th Jun 2024) from HK$1.81 to HK$1.78. During the last trading day the stock fluctuated 2.25% from a day low at HK$1.78 to a day high of HK$1.82. The price has been going up and down for this period, and there has been a -0.56% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -152 thousand shares and in total, 21 thousand shares were bought and sold for approximately HK$37.56 thousand.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at HK$1.81. A reaction back to this level may hold a second chance to get out before further falls.
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0737.HK Signals & Forecast
There are mixed signals in the stock today. The Shenzhen Investment Holdings Bay Area 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$1.79 and HK$1.81. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 0.565%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shenzhen Investment Holdings Bay Area stock
Shenzhen Investment Holdings Bay Area finds support from accumulated volume at HK$1.71 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved HK$0.0400 between high and low, or 2.25%. For the last week the stock has had daily average volatility of 1.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0737.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Shenzhen Investment Holdings Bay Area Development Company Limited to open at HK$1.79, and during the day (based on 14 day Average True Range), to move between HK$1.74 and HK$1.82, which gives a possible trading interval of +/-HK$0.0410 (+/-2.30%) up or down from last closing price. If Shenzhen Investment Holdings Bay Area Development Company Limited takes out the full calculated possible swing range there will be an estimated 4.60% 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$1.80 (1.12%) than the support at HK$1.71 (3.93%), 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 Shenzhen Investment Holdings Bay Area Development Company Limited stock A Buy?
Shenzhen Investment Holdings Bay Area holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Buy to a Sell candidate.
Current score: -1.907 Sell Candidate Downgraded
Predicted Opening Price for Shenzhen Investment Holdings Bay Area Development Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$1.79 ( 0.749%) | HK$1.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0737.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.83 | 3.00% |
| R2 | 1.82 | 2.14% |
| R1 | 1.81 | 1.61% |
| Price | 1.78 | |
| S1 | 1.78 | -0.109% |
| S2 | 1.77 | -0.640% |
| S3 | 1.75 | -1.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.96 | 10.11% |
| R2 | 1.81 | 1.69% |
| R1 | 1.80 | 1.12% |
| Price | 1.78 | |
| S1 | 1.71 | -3.93% |
| S2 | 1.70 | -4.49% |
| S3 | 1.69 | -5.06% |
0737 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | Jul 15, 2024 | HK$0.127 | 7.11% |
| 2 | Sep 21, 2023 | Sep 21, 2023 | Nov 10, 2023 | HK$0.0604 | 4.44% |
| 3 | May 23, 2023 | May 23, 2023 | May 23, 2023 | HK$0.0369 | 1.94% |
| 4 | Sep 01, 2022 | Sep 01, 2022 | Sep 01, 2022 | HK$0.0667 | 3.03% |
| 5 | May 04, 2022 | May 04, 2022 | May 04, 2022 | HK$0.129 | 4.88% |
FAQ
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