Sunac Services Holdings Limited Stock Forecast
Red day on Friday for Sunac Services Holdings Limited stock after losing 1.09%
(Updated on Jun 28, 2024)
The Sunac Services Holdings Limited stock price fell by -1.09% on the last day (Friday, 28th Jun 2024) from HK$1.83 to HK$1.81. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.21% from a day low at HK$1.81 to a day high of HK$1.85. The price has fallen in 7 of the last 10 days and is down by -6.22% 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 -3 million shares and in total, 7 million shares were bought and sold for approximately HK$12.18 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.16% during the next 3 months and, with a 90% probability hold a price between HK$1.64 and HK$1.77 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1516.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Sunac Services Holdings 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$1.86 and HK$1.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -7.18%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sunac Services Holdings 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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0400 between high and low, or 2.21%. For the last week the stock has had daily average volatility of 3.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1516.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Sunac Services Holdings Limited to open at HK$1.82, and during the day (based on 14 day Average True Range), to move between HK$1.73 and HK$1.89, which gives a possible trading interval of +/-HK$0.0792 (+/-4.38%) up or down from last closing price. If Sunac Services Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$1.88, some HK$0.0700 (3.87%) from the current price of HK$1.81, our system finds the risk reward not very attractive.
Is Sunac Services Holdings Limited stock A Buy?
Sunac Services Holdings Limited holds several negative signals and is within a 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.
Current score: -2.419 Sell Candidate Unchanged
Predicted Opening Price for Sunac Services Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$1.82 ( 0.737%) | HK$1.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1516.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.86 | 2.95% |
| R2 | 1.85 | 2.10% |
| R1 | 1.84 | 1.58% |
| Price | 1.81 | |
| S1 | 1.81 | -0.108% |
| S2 | 1.80 | -0.629% |
| S3 | 1.78 | -1.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.04 | 12.71% |
| R2 | 1.90 | 4.97% |
| R1 | 1.88 | 3.87% |
| Price | 1.81 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
1516 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | Jun 04, 2024 | HK$0.157 | 7.93% |
| 2 | Sep 27, 2023 | Sep 27, 2023 | Oct 13, 2023 | HK$0.235 | 10.35% |
| 3 | Jun 02, 2023 | Jun 02, 2023 | Jun 15, 2023 | HK$0.152 | 6.18% |
| 4 | Jun 13, 2022 | Jun 13, 2022 | Jun 23, 2022 | HK$0.146 | 3.19% |
| 5 | Jun 22, 2021 | Jun 22, 2021 | Jul 15, 2021 | HK$0.0700 | 0.255% |
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