Suga International Holdings Limited Stock Forecast
Suga International Holdings Limited stock downgraded to Hold/Accumulate
(Updated on May 20, 2024)
The Suga International Holdings Limited stock price fell by -0.758% on the last day (Monday, 20th May 2024) from HK$1.32 to HK$1.31. During the last trading day the stock fluctuated 0.763% from a day low at HK$1.31 to a day high of HK$1.32. The price has fallen in 4 of the last 10 days but is still up by 3.97% over the past 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 -524 thousand shares and in total, 26 thousand shares were bought and sold for approximately HK$34.06 thousand.
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 Suga International Holdings Limited stock with a 90% probability to be traded between HK$1.17 and HK$1.34 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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0912.HK Signals & Forecast
The Suga International Holdings 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$1.31 and HK$1.25. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -3.68%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Suga International Holdings Limited stock
Suga International Holdings Limited finds support from accumulated volume at HK$1.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0100 between high and low, or 0.763%. For the last week the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: HK$1.25 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (0912.HK) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Suga International Holdings Limited to open at HK$1.31, and during the day (based on 14 day Average True Range), to move between HK$1.29 and HK$1.33, which gives a possible trading interval of +/-HK$0.0239 (+/-1.83%) up or down from last closing price. If Suga International Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.65% 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$1.32 (0.76%) than the support at HK$1.28 (2.29%), 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 Suga International Holdings Limited stock A Buy?
Suga International Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.109 Hold/Accumulate Downgraded
Predicted Opening Price for Suga International Holdings Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| HK$1.31 ( 0.254%) | HK$1.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0912.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.32 | 1.02 % | |
| R2 | 1.32 | 0.726 % | ||
| R1 | 1.32 | 0.546 % | ||
| Current price: | 1.31 | |||
| Support | S1 | 1.31 | -0.0372 % | |
| S2 | 1.31 | -0.217 % | ||
| S3 | 1.30 | -0.509 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 1.36 | 3.82 % | ||
| R1 | 1.32 | 0.763 % | ||
| Current price | 1.31 | |||
| Support | S1 | 1.28 | -2.29% | |
| S2 | 1.26 | -3.82% | ||
| S3 | 1.22 | -6.87% |
0912 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 11, 2023 | Dec 11, 2023 | Dec 11, 2023 | HK$0 | 0% |
| 2 | Dec 12, 2022 | Dec 12, 2022 | Dec 12, 2022 | HK$0.0500 | 3.57% |
| 3 | Aug 12, 2022 | Aug 12, 2022 | Aug 12, 2022 | HK$0.0600 | 4.62% |
| 4 | Dec 09, 2021 | Dec 09, 2021 | Dec 09, 2021 | HK$0.0600 | 3.47% |
| 5 | Aug 17, 2021 | Aug 17, 2021 | Aug 17, 2021 | HK$0.0300 | 1.48% |
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