Summi (Group) Holdings Limited Stock Forecast

Summi (Group) Holdings Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)

0756.HK Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Summi (Group) Holdings 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$0.465 and HK$0.748. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -59.73%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Summi (Group) Holdings Limited stock

Summi (Group) Holdings Limited finds support from accumulated volume at HK$0.445 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0350 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 5.64%.

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

Trading Expectations (0756.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Summi (Group) Holdings Limited to open at HK$0.443, and during the day (based on 14 day Average True Range), to move between HK$0.385 and HK$0.525, which gives a possible trading interval of +/-HK$0.0695 (+/-15.28%) up or down from last closing price. If Summi (Group) Holdings Limited takes out the full calculated possible swing range there will be an estimated 30.56% 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$0.460 (1.10%) than the support at HK$0.445 (2.20%), 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 Summi (Group) Holdings Limited stock A Buy?

The Summi (Group) Holdings Limited stock holds several negative signals and despite the positive trend, we believe Summi (Group) Holdings Limited 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 Hold/Accumulate to a Sell candidate.

Current score: -2.797 Sell Candidate Downgraded

Predicted Opening Price for Summi (Group) Holdings Limited of Monday, May 6, 2024

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