State Energy Group International Assets Stock Forecast

Stronger technical forecast for State Energy Group International Assets stock price after Thursday trading.
(Updated on Jun 20, 2024)

0918.HK Signals & Forecast

The State Energy Group International Assets stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.736. On a fall, the stock will find some support from the long-term average at approximately HK$0.617. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, June 18, 2024, and so far it has fallen -5.26%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, November 02, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for State Energy Group International Assets stock

State Energy Group International Assets finds support from accumulated volume at HK$0.700 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0300 between high and low, or 4.35%. For the last week, the stock has had daily average volatility of 4.54%.

Our recommended stop-loss: HK$0.681 (-5.43%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (0918.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect State Energy Group International Assets Holdings Limited to open at HK$0.710, and during the day (based on 14 day Average True Range), to move between HK$0.693 and HK$0.747, which gives a possible trading interval of +/-HK$0.0267 (+/-3.70%) up or down from last closing price. If State Energy Group International Assets Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.41% 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$0.700 (2.78%) than the resistance at HK$0.750 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is State Energy Group International Assets Holdings Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for State Energy Group International Assets stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.641 Buy Candidate Upgraded

Predicted Opening Price for State Energy Group International Assets Holdings Limited of Friday, June 21, 2024

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