Sing Tao News Corporation Limited Stock Forecast
Sing Tao News Corporation Limited stock price took a fall of -6.67% on Tuesday
(Updated on Jun 18, 2024)
The Sing Tao News Corporation Limited stock price fell by -6.67% on the last day (Tuesday, 18th Jun 2024) from HK$0.300 to HK$0.280. During the last trading day the stock fluctuated 7.41% from a day low at HK$0.270 to a day high of HK$0.290. The price has risen in 4 of the last 10 days but is still down by -5.08% for this period. 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 -64 thousand shares and in total, 146 thousand shares were bought and sold for approximately HK$40.88 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.274 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.54% during the next 3 months and, with a 90% probability hold a price between HK$0.264 and HK$0.316 at the end of this 3-month period.
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1105.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Sing Tao News Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.300 and HK$0.298. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -15.15%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Tuesday, May 28, 2024 with a target of HK$0.281. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Sing Tao News Corporation Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.0200 between high and low, or 7.41%. For the last week the stock has had daily average volatility of 4.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1105.HK) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Sing Tao News Corporation Limited to open at HK$0.280, and during the day (based on 14 day Average True Range), to move between HK$0.266 and HK$0.294, which gives a possible trading interval of +/-HK$0.0143 (+/-5.10%) up or down from last closing price. If Sing Tao News Corporation Limited takes out the full calculated possible swing range there will be an estimated 10.20% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.290, some HK$0.0100 (3.57%) from the current price of HK$0.280, our system finds the risk reward not very attractive.
Is Sing Tao News Corporation Limited stock A Buy?
Sing Tao News Corporation Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Buy to a Sell candidate.
Current score: -1.431 Sell Candidate Downgraded
Predicted Opening Price for Sing Tao News Corporation Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| HK$0.280 ( 0%) | HK$0.280 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1105.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.300 | 7.14% |
| R2 | 0.292 | 4.41% |
| R1 | 0.288 | 2.73% |
| Price | 0.280 | |
| S1 | 0.272 | -2.73% |
| S2 | 0.268 | -4.41% |
| S3 | 0.260 | -7.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.300 | 7.14% |
| R2 | 0.295 | 5.36% |
| R1 | 0.290 | 3.57% |
| Price | 0.280 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
1105 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 02, 2021 | Jul 02, 2021 | Jul 02, 2021 | HK$0.0200 | 2.15% |
| 2 | Aug 29, 2019 | Sep 11, 2019 | Sep 24, 2019 | HK$0.0350 | 4.38% |
| 3 | Mar 28, 2019 | May 14, 2019 | May 27, 2019 | HK$0.100 | 11.36% |
| 4 | Aug 28, 2018 | Sep 10, 2018 | Sep 21, 2018 | HK$0.0200 | 2.17% |
| 5 | Mar 28, 2018 | May 08, 2018 | May 18, 2018 | HK$0.0400 | 4.04% |
FAQ
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