Shimao Group Holdings Limited Stock Forecast

Shimao Group Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 18, 2024)

0813.HK Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shimao 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$0.81 and HK$0.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -40.15%. 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).

Support, Risk & Stop-loss for Shimao Group Holdings Limited stock

Shimao Group Holdings Limited finds support from accumulated volume at HK$0.780 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$0.0500 between high and low, or 6.49%. For the last week, the stock has had daily average volatility of 10.73%.

Our recommended stop-loss: HK$0.743 (-5.98%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (0813.HK) For The Upcoming Trading Day Of Wednesday 19th

For the upcoming trading day on Wednesday, 19th we expect Shimao Group Holdings Limited to open at HK$0.793, and during the day (based on 14 day Average True Range), to move between HK$0.677 and HK$0.90, which gives a possible trading interval of +/-HK$0.113 (+/-14.35%) up or down from last closing price. If Shimao Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 28.71% 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$0.780 (1.27%) than the resistance at HK$0.85 (7.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shimao Group Holdings Limited stock A Buy?

Shimao Group Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.848 Hold/Accumulate Upgraded

Predicted Opening Price for Shimao Group Holdings Limited of Wednesday, June 19, 2024

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