Shandong International Trust Co., Ltd. Stock Forecast

Shandong International Trust Co., Ltd. stock price ended at HK$0.360 on Friday, after losing 0%.
(Updated on May 17, 2024)

1697.HK Signals & Forecast

The Shandong International Trust Co., 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$0.341 and HK$0.313. 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 Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shandong International Trust Co., Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.340 and HK$0.335. 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, Shandong International Trust Co., Ltd. finds support just below today's level at HK$0.340. If this is broken, then the next support from accumulated volume will be at HK$0.335 and HK$0.310.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.25%

The Shandong International Trust Co., Ltd. stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$0.348 (-3.42%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (1697.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Shandong International Trust Co., Ltd. to open at HK$0.360, and during the day (based on 14 day Average True Range), to move between HK$0.350 and HK$0.370, which gives a possible trading interval of +/-HK$0.0101 (+/-2.81%) up or down from last closing price. If Shandong International Trust Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.62% 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$0.365 (1.39%) than the support at HK$0.340 (5.56%), 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 Shandong International Trust Co., Ltd. stock A Buy?

Shandong International Trust Co., 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.

Current score: 0.598 Hold/Accumulate Unchanged

Predicted Opening Price for Shandong International Trust Co., Ltd. of Monday, May 20, 2024

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