SUNeVision Holdings Ltd. Stock Forecast

Red day on Friday for SUNeVision Holdings Ltd. stock after losing 0%
(Updated on May 17, 2024)

1686.HK Signals & Forecast

The SUNeVision Holdings 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$2.84 and HK$2.55. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, May 13, 2024, and so far it has fallen -2.68%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for SUNeVision Holdings Ltd. stock

SUNeVision Holdings Ltd. finds support from accumulated volume at HK$2.86 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$0.0700 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 3.72%.

The SUNeVision Holdings Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$2.78 (-4.25%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (1686.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect SUNeVision Holdings Ltd. to open at HK$2.90, and during the day (based on 14 day Average True Range), to move between HK$2.81 and HK$2.99, which gives a possible trading interval of +/-HK$0.0904 (+/-3.12%) up or down from last closing price. If SUNeVision Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 6.24% 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$2.92 (0.69%) than the support at HK$2.86 (1.38%), 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 SUNeVision Holdings Ltd. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.538 Buy Candidate Unchanged

Predicted Opening Price for SUNeVision Holdings Ltd. of Monday, May 20, 2024

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