Zhejiang Shibao Company Limited Stock Forecast
Green day on Friday for Zhejiang Shibao Company Limited
(Updated on May 31, 2024)
The Zhejiang Shibao Company Limited stock price gained 0.93% on the last trading day (Friday, 31st May 2024), rising from HK$2.16 to HK$2.18. During the last trading day the stock fluctuated 3.70% from a day low at HK$2.16 to a day high of HK$2.24. The price has fallen in 5 of the last 10 days and is down by -6.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately HK$17.21 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.00% during the next 3 months and, with a 90% probability hold a price between HK$2.24 and HK$2.92 at the end of this 3-month period.
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1057.HK Signals & Forecast
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. The Zhejiang Shibao Company 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$2.18 and HK$2.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -15.18%. 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).
Support, Risk & Stop-loss for Zhejiang Shibao Company Limited stock
Zhejiang Shibao Company Limited finds support from accumulated volume at HK$2.16 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$0.0800 between high and low, or 3.70%. 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 (1057.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Zhejiang Shibao Company Limited to open at HK$2.19, and during the day (based on 14 day Average True Range), to move between HK$2.09 and HK$2.27, which gives a possible trading interval of +/-HK$0.0864 (+/-3.97%) up or down from last closing price. If Zhejiang Shibao Company Limited takes out the full calculated possible swing range there will be an estimated 7.93% 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$2.16 (0.92%) than the resistance at HK$2.36 (8.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Shibao Company Limited stock A Buy?
The Zhejiang Shibao Company Limited stock holds several negative signals and despite the positive trend, we believe Zhejiang Shibao Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.228 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Shibao Company Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$2.19 ( 0.612%) | HK$2.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1057.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.27 | 4.28 % | |
| R2 | 2.24 | 2.88 % | ||
| R1 | 2.22 | 2.01 % | ||
| Current price: | 2.18 | |||
| Support | S1 | 2.16 | -0.790 % | |
| S2 | 2.14 | -1.66 % | ||
| S3 | 2.11 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.57 | 17.89 % | |
| R2 | 2.37 | 8.72 % | ||
| R1 | 2.36 | 8.26 % | ||
| Current price | 2.18 | |||
| Support | S1 | 2.16 | -0.92% | |
| S2 | 2.15 | -1.38% | ||
| S3 | 2.13 | -2.29% |
1057 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2017 | Jul 04, 2017 | Jul 04, 2017 | HK$0.0458 | 1.40% |
| 2 | Jun 24, 2016 | Jun 24, 2016 | Jun 24, 2016 | HK$0.0472 | 1.36% |
| 3 | Jul 03, 2015 | Jul 03, 2015 | Jul 03, 2015 | HK$0.0507 | 0.82% |
| 4 | Jul 03, 2014 | Jul 03, 2014 | Jul 03, 2014 | HK$0.0403 | 1.23% |
| 5 | Jun 18, 2013 | Jun 18, 2013 | Jun 18, 2013 | HK$0.0320 | 3.08% |
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