Sunac China Holdings Limited Stock Forecast

Red day on Wednesday for Sunac China Holdings Limited stock after losing 0%
(Updated on Jun 26, 2024)

1918.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Sunac China 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$1.39. On a fall, the stock will find some support from the short-term average at HK$1.19. 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -35.14%. 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 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 Sunac China Holdings Limited stock

Sunac China Holdings Limited finds support from accumulated volume at HK$1.18 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$0.0500 between high and low, or 4.24%. For the last week, the stock has had daily average volatility of 4.62%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1918.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Sunac China Holdings Limited to open at HK$1.20, and during the day (based on 14 day Average True Range), to move between HK$1.11 and HK$1.29, which gives a possible trading interval of +/-HK$0.0904 (+/-7.53%) up or down from last closing price. If Sunac China Holdings Limited takes out the full calculated possible swing range there will be an estimated 15.06% 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$1.18 (1.67%) than the resistance at HK$1.29 (7.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sunac China Holdings Limited stock A Buy?

The Sunac China Holdings Limited stock holds several negative signals and despite the positive trend, we believe Sunac China Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.433 Sell Candidate Unchanged

Predicted Opening Price for Sunac China Holdings Limited of Thursday, June 27, 2024

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