Shaw Brothers Holdings Limited Stock Forecast
Weaker technical forecast for Shaw Brothers Holdings Limited as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Shaw Brothers Holdings Limited stock price fell by -1.72% on the last day (Friday, 17th May 2024) from HK$0.116 to HK$0.114. During the last trading day the stock fluctuated 1.77% from a day low at HK$0.113 to a day high of HK$0.115. The price has risen in 6 of the last 10 days and is up by 11.76% 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 -688 thousand shares and in total, 1 million shares were bought and sold for approximately HK$152.08 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.117 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.64% during the next 3 months and, with a 90% probability hold a price between HK$0.0879 and HK$0.108 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0953.HK Signals & Forecast
The Shaw Brothers 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$0.112 and HK$0.107. 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 Thursday, May 16, 2024, and so far it has fallen -1.72%. 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.
Support, Risk & Stop-loss for Shaw Brothers Holdings Limited stock
Shaw Brothers Holdings Limited finds support from accumulated volume at HK$0.113 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$0.0020 between high and low, or 1.77%. For the last week the stock has had daily average volatility of 4.95%.
Our recommended stop-loss: HK$0.109 (-4.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (0953.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shaw Brothers Holdings Limited to open at HK$0.114, and during the day (based on 14 day Average True Range), to move between HK$0.109 and HK$0.119, which gives a possible trading interval of +/-HK$0.0050 (+/-4.37%) 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 8.74% 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$0.113 (0.88%) than the resistance at HK$0.116 (1.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shaw Brothers Holdings Limited stock A Buy?
Shaw Brothers 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: 0.065 Hold/Accumulate Downgraded
Predicted Opening Price for Shaw Brothers Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.114 ( 0%) | HK$0.114 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.116 | 1.75 % | |
| R2 | 0.115 | 1.08 % | ||
| R1 | 0.115 | 0.670 % | ||
| Current price: | 0.114 | |||
| Support | S1 | 0.113 | -0.670 % | |
| S2 | 0.113 | -1.08 % | ||
| S3 | 0.112 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.119 | 4.39 % | |
| R2 | 0.118 | 3.51 % | ||
| R1 | 0.116 | 1.75 % | ||
| Current price | 0.114 | |||
| Support | S1 | 0.113 | -0.88% | |
| S2 | 0.112 | -1.75% | ||
| S3 | 0.108 | -5.26% |
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% |
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