Shandong International Trust Co., Ltd. Stock Forecast

Red day on Friday for Shandong International Trust Co., Ltd.
(Updated on May 31, 2024)

1697.HK Signals & Forecast

The Shandong International Trust Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.364. On a fall, the stock will find some support from the long-term average at approximately HK$0.329. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 29, 2024, and so far it has fallen -6.67%. 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 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

Shandong International Trust Co., Ltd. finds support from accumulated volume at HK$0.340 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 periodic low trading volume this stock is considered to be "high risk". 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 3.55%.

Our recommended stop-loss: HK$0.329 (-5.90%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (1697.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Shandong International Trust Co., Ltd. to open at HK$0.350, and during the day (based on 14 day Average True Range), to move between HK$0.337 and HK$0.363, which gives a possible trading interval of +/-HK$0.0134 (+/-3.84%) 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 7.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.340 (2.86%) than the resistance at HK$0.360 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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: 0.065 Hold/Accumulate Unchanged

Predicted Opening Price for Shandong International Trust Co., Ltd. of Monday, June 3, 2024

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