SIM Technology Group Limited Stock Forecast
Volatile ride for SIM Technology Group Limited stock price on Wednesday moving between HK$0.315 and HK$0.360
(Updated on May 22, 2024)
The SIM Technology Group Limited stock price fell by -1.56% on the last day (Wednesday, 22nd May 2024) from HK$0.320 to HK$0.315. During the last trading day the stock fluctuated 14.29% from a day low at HK$0.315 to a day high of HK$0.360. The price has fallen in 4 of the last 10 days but is still up by 3.28% over the past 2 weeks. Volume has increased on the last day by 122 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, 132 thousand shares were bought and sold for approximately HK$41.58 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.306 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.77% during the next 3 months and, with a 90% probability hold a price between HK$0.360 and HK$0.501 at the end of this 3-month period.
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2000.HK Signals & Forecast
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. The SIM Technology Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.319 and HK$0.320. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -19.23%. Further fall is indicated until a new bottom pivot has been found. SIM Technology Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SIM Technology Group Limited stock
SIM Technology Group Limited finds support from accumulated volume at HK$0.300 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0450 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2000.HK) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect SIM Technology Group Limited to open at HK$0.330, and during the day (based on 14 day Average True Range), to move between HK$0.301 and HK$0.329, which gives a possible trading interval of +/-HK$0.0136 (+/-4.33%) up or down from last closing price. If SIM Technology Group Limited takes out the full calculated possible swing range there will be an estimated 8.65% 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$0.300 (4.76%) than the resistance at HK$0.340 (7.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SIM Technology Group Limited stock A Buy?
The SIM Technology Group Limited stock holds several negative signals and despite the positive trend, we believe SIM Technology Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.877 Sell Candidate Downgraded
Predicted Opening Price for SIM Technology Group Limited of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| HK$0.330 ( 4.76%) | HK$0.315 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2000.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.375 | 19.05 % | |
| R2 | 0.358 | 13.59 % | ||
| R1 | 0.347 | 10.22 % | ||
| Current price: | 0.315 | |||
| Support | S1 | 0.313 | -0.695 % | |
| S2 | 0.302 | -4.07 % | ||
| S3 | 0.285 | -9.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.390 | 23.81 % | |
| R2 | 0.385 | 22.22 % | ||
| R1 | 0.340 | 7.94 % | ||
| Current price | 0.315 | |||
| Support | S1 | 0.300 | -4.76% | |
| S2 | 0.270 | -14.29% | ||
| S3 | 0.260 | -17.46% |
2000 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | Apr 26, 2024 | HK$0.0400 | 13.11% |
| 2 | May 23, 2018 | Jun 11, 2018 | Jun 28, 2018 | HK$0.0400 | 12.50% |
| 3 | Mar 30, 2017 | Jun 12, 2017 | Jun 29, 2017 | HK$0.0100 | 2.82% |
| 4 | Aug 19, 2011 | Sep 19, 2011 | Oct 07, 2011 | HK$0.0085 | 1.79% |
| 5 | Mar 03, 2011 | May 06, 2011 | Jun 08, 2011 | HK$0.0256 | 2.27% |
FAQ
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