SITC International Holdings Co Ltd Stock Forecast
Stronger technical forecast for SITC International Holdings Co Ltd stock price after Friday trading.
(Updated on May 17, 2024)
The SITC International Holdings Co Ltd stock price gained 4.27% on the last trading day (Friday, 17th May 2024), rising from HK$19.42 to HK$20.25. During the last trading day the stock fluctuated 4.10% from a day low at HK$19.50 to a day high of HK$20.30. The price has risen in 8 of the last 10 days and is up by 12.38% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 8 million shares were bought and sold for approximately HK$153.91 million. 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$20.01, a level that may pose a second chance to hit a runner. According to fan-theory HK$22.73 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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1308.HK Signals & Forecast
Mostly positive signals in the chart today. The SITC International Holdings Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$19.59 and HK$16.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 51.80%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for SITC International Holdings Co Ltd stock
SITC International Holdings Co Ltd finds support from accumulated volume at HK$19.42 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$0.80 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 4.21%.
Our recommended stop-loss: HK$19.63 (-3.04%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (1308.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SITC International Holdings Company Limited to open at HK$20.02, and during the day (based on 14 day Average True Range), to move between HK$19.42 and HK$21.08, which gives a possible trading interval of +/-HK$0.83 (+/-4.11%) up or down from last closing price. If SITC International Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 8.22% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$19.42, some HK$0.83 (4.10%) from the current price of HK$20.25, our system finds the risk reward attractive.
Is SITC International Holdings Company Limited stock A Buy?
SITC International Holdings Co Ltd holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.156 Strong Buy Candidate Upgraded
Predicted Opening Price for SITC International Holdings Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$20.02 ( 1.15%) | HK$20.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1308.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.82 | 2.80 % | |
| R2 | 20.51 | 1.29 % | ||
| R1 | 20.32 | 0.357 % | ||
| Current price: | 20.25 | |||
| Support | S1 | 19.71 | -2.66 % | |
| S2 | 19.52 | -3.59 % | ||
| S3 | 19.22 | -5.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 20.25 | |||
| Support | S1 | 19.42 | -4.10% | |
| S2 | 17.70 | -12.59% | ||
| S3 | 15.28 | -24.54% |
1308 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | May 21, 2024 | HK$0.500 | 2.48% |
| 2 | Apr 26, 2023 | Apr 26, 2023 | Apr 26, 2023 | HK$1.60 | 10.67% |
| 3 | Aug 29, 2022 | Aug 29, 2022 | Aug 29, 2022 | HK$2.40 | 11.94% |
| 4 | Apr 26, 2022 | Apr 26, 2022 | Apr 26, 2022 | HK$1.40 | 5.32% |
| 5 | Dec 30, 2021 | Dec 30, 2021 | Dec 30, 2021 | HK$0.80 | 2.78% |
FAQ
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