Shenguan Holdings (Group) Limited Stock Forecast
Shenguan Holdings (Group) Limited stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Shenguan Holdings (Group) Limited stock price gained 1.61% on the last trading day (Friday, 17th May 2024), rising from HK$0.310 to HK$0.315. During the last trading day the stock fluctuated 3.28% from a day low at HK$0.305 to a day high of HK$0.315. The price has been going up and down for this period, and there has been a 1.61% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 294 thousand shares were bought and sold for approximately HK$92.61 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.308 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.73% during the next 3 months and, with a 90% probability hold a price between HK$0.332 and HK$0.376 at the end of this 3-month period.
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0829.HK Signals & Forecast
The Shenguan Holdings (Group) Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.313 and HK$0.310. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 6.78%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Shenguan Holdings (Group) Limited stock
Shenguan Holdings (Group) Limited finds support from accumulated volume at HK$0.310 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 therefore the general risk is considered very 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$0.0100 between high and low, or 3.28%. For the last week the stock has had daily average volatility of 2.27%
Our recommended stop-loss: HK$0.303 (-3.91%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (0829.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenguan Holdings (Group) Limited to open at HK$0.312, and during the day (based on 14 day Average True Range), to move between HK$0.307 and HK$0.323, which gives a possible trading interval of +/-HK$0.0075 (+/-2.39%) up or down from last closing price. If Shenguan Holdings (Group) Limited takes out the full calculated possible swing range there will be an estimated 4.78% 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$0.320 (1.59%) than the support at HK$0.310 (1.59%), 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 Shenguan Holdings (Group) Limited stock A Buy?
Shenguan Holdings (Group) Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 6.010 Strong Buy Candidate Upgraded
Predicted Opening Price for Shenguan Holdings (Group) Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.312 ( 1.06%) | HK$0.315 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0829.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.322 | 2.12 % | |
| R2 | 0.318 | 0.90 % | ||
| R1 | 0.315 | 0.154 % | ||
| Current price: | 0.315 | |||
| Support | S1 | 0.308 | -2.27 % | |
| S2 | 0.305 | -3.02 % | ||
| S3 | 0.302 | -4.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.335 | 6.35 % | |
| R2 | 0.330 | 4.76 % | ||
| R1 | 0.320 | 1.59 % | ||
| Current price | 0.315 | |||
| Support | S1 | 0.310 | -1.59% | |
| S2 | 0.305 | -3.17% | ||
| S3 | 0.285 | -9.52% |
0829 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jul 05, 2024 | HK$0.0400 | 12.70% |
| 2 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.0400 | 13.11% |
| 3 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | HK$0.0400 | 9.52% |
| 4 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$0.0400 | 9.30% |
| 5 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | HK$0.0400 | 14.55% |
FAQ
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