Sisram Medical Ltd Stock Forecast
Sisram Medical Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 21, 2024)
The Sisram Medical Ltd stock price fell by -0.460% on the last day (Tuesday, 21st May 2024) from HK$4.35 to HK$4.33. During the last trading day the stock fluctuated 2.80% from a day low at HK$4.28 to a day high of HK$4.40. The price has been going up and down for this period, and there has been a 9.34% gain for the last 2 weeks. Volume has increased on the last day by 44 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 995 thousand shares were bought and sold for approximately HK$4.31 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$4.35 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.77% during the next 3 months and, with a 90% probability hold a price between HK$2.99 and HK$4.23 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
1696.HK Signals & Forecast
The Sisram Medical 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$4.28 and HK$3.69. 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 20, 2024, and so far it has fallen -0.460%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sisram Medical Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.05 and HK$3.61. 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, Sisram Medical Ltd finds support just below today's level at HK$4.05. If this is broken, then the next support from accumulated volume will be at HK$3.61 and HK$3.54.
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$0.120 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 4.13%.
Our recommended stop-loss: HK$4.22 (-2.56%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (1696.HK) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Sisram Medical Ltd to open at HK$4.34, and during the day (based on 14 day Average True Range), to move between HK$4.11 and HK$4.55, which gives a possible trading interval of +/-HK$0.221 (+/-5.10%) up or down from last closing price. If Sisram Medical Ltd takes out the full calculated possible swing range there will be an estimated 10.19% 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$4.35 (0.46%) than the support at HK$4.05 (6.47%), 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 Sisram Medical Ltd stock A Buy?
Sisram Medical Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.859 Hold/Accumulate Downgraded
Predicted Opening Price for Sisram Medical Ltd of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| HK$4.34 ( 0.154%) | HK$4.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1696.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.46 | 2.93 % | |
| R2 | 4.41 | 1.87 % | ||
| R1 | 4.38 | 1.21 % | ||
| Current price: | 4.33 | |||
| Support | S1 | 4.29 | -0.90 % | |
| S2 | 4.26 | -1.56 % | ||
| S3 | 4.22 | -2.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.35 | 0.462 % | ||
| Current price | 4.33 | |||
| Support | S1 | 4.05 | -6.47% | |
| S2 | 3.61 | -16.63% | ||
| S3 | 3.54 | -18.24% |
1696 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 19, 2022 | Aug 19, 2022 | Aug 19, 2022 | HK$0.157 | 1.42% |
| 2 | Aug 12, 2021 | Aug 12, 2021 | Aug 12, 2021 | HK$0.0700 | 0.397% |
| 3 | Mar 18, 2020 | Aug 20, 2020 | Aug 31, 2020 | HK$0.110 | 4.42% |
| 4 | Mar 18, 2019 | Jun 21, 2019 | Aug 15, 2019 | HK$0.100 | 2.91% |
FAQ
Click here for our free guide on how to buy Sisram Medical Ltd Stock.
