Sprocomm Intelligence Ltd Stock Forecast
Stronger technical forecast for Sprocomm Intelligence Ltd stock price after Monday trading.
(Updated on May 20, 2024)
The Sprocomm Intelligence Ltd stock price gained 2.40% on the last trading day (Monday, 20th May 2024), rising from HK$2.92 to HK$2.99. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.66% from a day low at HK$2.90 to a day high of HK$3.18. The price has fallen in 5 of the last 10 days but is still up by 3.1% over the past 2 weeks. Volume fell on the last day by -750 thousand shares and in total, 812 thousand shares were bought and sold for approximately HK$2.43 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 lies in the middle of a 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 51.02% during the next 3 months and, with a 90% probability hold a price between HK$4.02 and HK$5.01 at the end of this 3-month period.
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1401.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.664%. 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). The Sprocomm Intelligence 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$2.82 and HK$2.72. A breakdown below any of these levels will issue sell signals. 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 Sprocomm Intelligence Ltd stock
Sprocomm Intelligence Ltd finds support from accumulated volume at HK$2.98 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$0.280 between high and low, or 9.66%. For the last week, the stock has had daily average volatility of 7.93%.
Our recommended stop-loss: HK$2.88 (-3.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (1401.HK) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sprocomm Intelligence Ltd to open at HK$3.02, and during the day (based on 14 day Average True Range), to move between HK$2.78 and HK$3.20, which gives a possible trading interval of +/-HK$0.213 (+/-7.14%) up or down from last closing price. If Sprocomm Intelligence Ltd takes out the full calculated possible swing range there will be an estimated 14.27% 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$2.98 (0.33%) than the resistance at HK$3.01 (0.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sprocomm Intelligence Ltd stock A Buy?
Sprocomm Intelligence Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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: 5.485 Strong Buy Candidate Upgraded
Predicted Opening Price for Sprocomm Intelligence Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| HK$3.02 ( 1.11%) | HK$2.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1401.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.30 | 10.48 % | |
| R2 | 3.20 | 6.90 % | ||
| R1 | 3.13 | 4.69 % | ||
| Current price: | 2.99 | |||
| Support | S1 | 2.92 | -2.46 % | |
| S2 | 2.85 | -4.67 % | ||
| S3 | 2.74 | -8.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 3.01 | 0.669 % | ||
| Current price | 2.99 | |||
| Support | S1 | 2.98 | -0.334% | |
| S2 | 2.75 | -8.03% | ||
| S3 | 2.68 | -10.37% |
FAQ
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