Sitoy Group Holdings Limited Stock Forecast
Evaluation of Sitoy Group Holdings Limited stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The Sitoy Group Holdings Limited stock price fell by -1.79% on the last day (Tuesday, 2nd Jul 2024) from HK$0.560 to HK$0.550. During the last trading day the stock fluctuated 5.45% from a day low at HK$0.550 to a day high of HK$0.580. The price has fallen in 5 of the last 10 days and is down by -8.33% for this period. Volume has increased on the last day by 187 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 916 thousand shares were bought and sold for approximately HK$503.80 thousand.
Given the current short-term trend, the stock is expected to rise 17.10% during the next 3 months and, with a 90% probability hold a price between HK$0.644 and HK$0.84 at the end of this 3-month period.
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1023.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Sitoy Group 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$0.567 and HK$0.608. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -16.67%. 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). Sitoy Group 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".
Support, Risk & Stop-loss for Sitoy Group Holdings Limited stock
Sitoy Group Holdings Limited finds support from accumulated volume at HK$0.530 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0300 between high and low, or 5.45%. For the last week, the stock has had daily average volatility of 2.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1023.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sitoy Group Holdings Limited to open at HK$0.560, and during the day (based on 14 day Average True Range), to move between HK$0.536 and HK$0.564, which gives a possible trading interval of +/-HK$0.0144 (+/-2.62%) up or down from last closing price. If Sitoy Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.24% 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$0.530 (3.64%) than the resistance at HK$0.610 (10.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sitoy Group Holdings Limited stock A Buy?
The Sitoy Group Holdings Limited stock holds several negative signals and despite the positive trend, we believe Sitoy Group Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.278 Sell Candidate Downgraded
Predicted Opening Price for Sitoy Group Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.560 ( 1.82%) | HK$0.550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1023.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.590 | 7.27% |
| R2 | 0.579 | 5.19% |
| R1 | 0.571 | 3.90% |
| Price | 0.550 | |
| S1 | 0.549 | -0.265% |
| S2 | 0.541 | -1.55% |
| S3 | 0.530 | -3.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.630 | 14.55% |
| R2 | 0.620 | 12.73% |
| R1 | 0.610 | 10.91% |
| Price | 0.550 | |
| S1 | 0.530 | -3.64% |
| S2 | 0.510 | -7.27% |
| S3 | 0.500 | -9.09% |
1023 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 29, 2024 | HK$0.0200 | 4.00% |
| 2 | Nov 24, 2023 | Nov 24, 2023 | Dec 21, 2023 | HK$0.0700 | 8.33% |
| 3 | Mar 31, 2023 | Mar 31, 2023 | Mar 31, 2023 | HK$0.0400 | 5.00% |
| 4 | Nov 25, 2022 | Nov 25, 2022 | Nov 25, 2022 | HK$0.0200 | 3.70% |
| 5 | Apr 01, 2022 | Apr 01, 2022 | Apr 01, 2022 | HK$0.0200 | 4.30% |
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