Sundart Holdings Limited Stock Forecast

Stronger technical forecast for Sundart Holdings Limited stock price after Friday trading.
(Updated on Apr 26, 2024)

1568.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 26.98%. 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). Sundart Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sundart Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.400. On a fall, the stock will find some support from the short-term average at HK$0.371. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Sundart Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.335 and HK$0.330. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sundart Holdings Limited finds support just below today's level at HK$0.335. If this is broken, then the next support from accumulated volume will be at HK$0.330 and HK$0.315.

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$0.0150 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 4.08%.

The Sundart Holdings Limited stock is extremely overbought on RSI14 (94). This increases the short-term risk substantially.

Our recommended stop-loss: HK$0.384 (-4.04%) (This stock has high daily movements and this gives high risk. The RSI14 is 94 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (1568.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Sundart Holdings Limited to open at HK$0.398, and during the day (based on 14 day Average True Range), to move between HK$0.386 and HK$0.414, which gives a possible trading interval of +/-HK$0.0143 (+/-3.57%) up or down from last closing price. If Sundart Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.14% 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$0.455 (13.75%) than the support at HK$0.335 (16.25%), 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 Sundart Holdings Limited stock A Buy?

Sundart Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Sundart Holdings Limited of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.