Sing Tao News Corporation Limited Stock Forecast
Sing Tao News Corporation Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The Sing Tao News Corporation Limited stock price gained 3.45% on the last trading day (Tuesday, 25th Jun 2024), rising from HK$0.290 to HK$0.300. During the last trading day the stock fluctuated 5.26% from a day low at HK$0.285 to a day high of HK$0.300. The price has fallen in 4 of the last 10 days and is down by -3.23% for this period. Volume fell on the last day by -181 thousand shares and in total, 112 thousand shares were bought and sold for approximately HK$33.56 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sing Tao News Corporation Limited stock with a 90% probability to be traded between HK$0.278 and HK$0.327 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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1105.HK Signals & Forecast
The Sing Tao News Corporation Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.299 and HK$0.299. A breakdown below any of these levels will issue sell signals. 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, June 20, 2024, and so far it has fallen -3.23%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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 and based on theory for this formation the price should fall by -6.30% to HK$0.281 within 36 trading days since signal was issued (Friday, July 19, 2024).
Support, Risk & Stop-loss for Sing Tao News Corporation Limited stock
Sing Tao News Corporation Limited finds support from accumulated volume at HK$0.295 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$0.0150 between high and low, or 5.26%. For the last week the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: HK$0.287 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (1105.HK) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sing Tao News Corporation Limited to open at HK$0.295, and during the day (based on 14 day Average True Range), to move between HK$0.285 and HK$0.315, which gives a possible trading interval of +/-HK$0.0148 (+/-4.94%) 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 9.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.305 (1.67%) than the support at HK$0.295 (1.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sing Tao News Corporation Limited stock A Buy?
Sing Tao News Corporation Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.452 Hold/Accumulate Upgraded
Predicted Opening Price for Sing Tao News Corporation Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| HK$0.295 ( 1.67%) | HK$0.300 |
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 | 0.310 | 3.33% |
| R2 | 0.304 | 1.42% |
| R1 | 0.301 | 0.243% |
| Price | 0.300 | |
| S1 | 0.289 | -3.58% |
| S2 | 0.286 | -4.76% |
| S3 | 0.280 | -6.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.330 | 10.00% |
| R2 | 0.310 | 3.33% |
| R1 | 0.305 | 1.67% |
| Price | 0.300 | |
| S1 | 0.295 | -1.67% |
| S2 | 0.290 | -3.33% |
| S3 | 0.285 | -5.00% |
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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