Shaw Brothers Holdings Limited Stock Forecast

Red day on Friday for Shaw Brothers Holdings Limited
(Updated on May 31, 2024)

0953.HK Signals & Forecast

The Shaw Brothers Holdings Limited 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$0.125. On a fall, the stock will find some support from the long-term average at approximately HK$0.111. 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). 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 Wednesday, May 22, 2024, and so far it has fallen -6.92%. Further fall is indicated until a new bottom pivot has been found. Shaw Brothers Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shaw Brothers Holdings Limited stock

Shaw Brothers Holdings Limited finds support from accumulated volume at HK$0.118 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$0.0020 between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 4.50%.

Our recommended stop-loss: HK$0.116 (-4.38%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (0953.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Shaw Brothers Holdings Limited to open at HK$0.121, and during the day (based on 14 day Average True Range), to move between HK$0.114 and HK$0.128, which gives a possible trading interval of +/-HK$0.0067 (+/-5.57%) 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 11.14% 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$0.118 (2.48%) than the resistance at HK$0.125 (3.31%), 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.

Current score: 0.490 Hold/Accumulate Unchanged

Predicted Opening Price for Shaw Brothers Holdings Limited of Monday, June 3, 2024

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