Shaw Brothers Holdings Limited Stock Forecast
Red day on Tuesday for Shaw Brothers Holdings Limited stock after losing 0%
(Updated on Jul 02, 2024)
No changes to the price of Shaw Brothers Holdings Limited stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 2.56% from a day low at HK$0.117 to a day high of HK$0.120. The price has fallen in 4 of the last 10 days and is down by -1.64% for this period.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.120 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 22.75% during the next 3 months and, with a 90% probability hold a price between HK$0.147 and HK$0.174 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0953.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Shaw Brothers 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$0.120 and HK$0.121. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -7.69%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Shaw Brothers Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.113 and HK$0.108. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shaw Brothers Holdings Limited finds support just below today's level at HK$0.113. If this is broken, then the next support from accumulated volume will be at HK$0.108 and HK$0.102.
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$0.0030 between high and low, or 2.56%. For the last week the stock has had daily average volatility of 2.72%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0953.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Shaw Brothers Holdings Limited to open at HK$0.119, and during the day (based on 14 day Average True Range), to move between HK$0.115 and HK$0.125, which gives a possible trading interval of +/-HK$0.0048 (+/-3.98%) up or down from last closing price. If Shaw Brothers Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.96% 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$0.122 (1.67%) than the support at HK$0.113 (5.83%), 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 Shaw Brothers Holdings Limited stock A Buy?
The Shaw Brothers Holdings Limited stock holds several negative signals and despite the positive trend, we believe Shaw Brothers Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.942 Sell Candidate Unchanged
Predicted Opening Price for Shaw Brothers Holdings Limited of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
HK$0.119 ( 0.83%) | HK$0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0953.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.122 | 1.67% |
R2 | 0.121 | 0.712% |
R1 | 0.120 | 0.122% |
Price | 0.120 | |
S1 | 0.118 | -1.79% |
S2 | 0.117 | -2.38% |
S3 | 0.116 | -3.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.130 | 8.33% |
R2 | 0.125 | 4.17% |
R1 | 0.122 | 1.67% |
Price | 0.120 | |
S1 | 0.113 | -5.83% |
S2 | 0.108 | -10.00% |
S3 | 0.102 | -15.00% |
0953 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 19, 2011 | Sep 19, 2011 | Sep 19, 2011 | HK$0.0250 | 2.50% |
2 | May 04, 2011 | May 04, 2011 | May 04, 2011 | HK$0.0300 | 2.16% |
3 | Sep 17, 2010 | Sep 17, 2010 | Sep 17, 2010 | HK$0.0220 | 1.29% |
4 | May 27, 2010 | May 27, 2010 | May 27, 2010 | HK$0.0340 | 2.41% |
5 | May 26, 2010 | May 26, 2010 | May 26, 2010 | HK$0.0340 | 2.39% |
FAQ
Click here for our free guide on how to buy Shaw Brothers Holdings Limited Stock.