SSY Group Limited Stock Forecast
Weaker technical forecast for SSY Group Limited as stock downgraded to Sell Candidate.
(Updated on Jun 17, 2024)
The SSY Group Limited stock price fell by -3.28% on the last day (Monday, 17th Jun 2024) from HK$4.88 to HK$4.72. During the last trading day the stock fluctuated 3.00% from a day low at HK$4.67 to a day high of HK$4.81. The price has fallen in 7 of the last 10 days but is still up by 0.21% over the past 2 weeks. Volume has increased on the last day by 1 million 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, 4 million shares were bought and sold for approximately HK$19.91 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SSY Group Limited stock with a 90% probability to be traded between HK$4.58 and HK$5.13 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2005.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 2.39%. Further rise is indicated until a new top pivot has been found. 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 SSY 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$4.74 and HK$4.77. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Friday, May 24, 2024 and based on theory for this formation the price should go up by 8.41% to HK$5.12 within 26 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for SSY Group Limited stock
SSY Group Limited finds support from accumulated volume at HK$4.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.140 between high and low, or 3.00%. For the last week the stock has had daily average volatility of 3.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2005.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect SSY Group Limited to open at HK$4.73, and during the day (based on 14 day Average True Range), to move between HK$4.56 and HK$4.88, which gives a possible trading interval of +/-HK$0.158 (+/-3.35%) up or down from last closing price. If SSY Group Limited takes out the full calculated possible swing range there will be an estimated 6.70% 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$4.71 (0.21%) than the resistance at HK$4.75 (0.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SSY Group Limited stock A Buy?
SSY Group Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -2.463 Sell Candidate Downgraded
Predicted Opening Price for SSY Group Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$4.73 ( 0.282%) | HK$4.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2005.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.87 | 3.25% |
| R2 | 4.82 | 2.12% |
| R1 | 4.79 | 1.42% |
| Price | 4.72 | |
| S1 | 4.68 | -0.85% |
| S2 | 4.65 | -1.55% |
| S3 | 4.59 | -2.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.16 | 9.32% |
| R2 | 4.88 | 3.39% |
| R1 | 4.75 | 0.636% |
| Price | 4.72 | |
| S1 | 4.71 | -0.212% |
| S2 | 4.68 | -0.85% |
| S3 | 4.65 | -1.48% |
2005 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | Jun 04, 2024 | HK$0.100 | 2.11% |
| 2 | Sep 14, 2023 | Sep 14, 2023 | Sep 27, 2023 | HK$0.0700 | 1.53% |
| 3 | May 23, 2023 | May 23, 2023 | May 23, 2023 | HK$0.0800 | 1.60% |
| 4 | May 22, 2023 | May 22, 2023 | May 22, 2023 | HK$0.0800 | 1.60% |
| 5 | Sep 16, 2022 | Sep 16, 2022 | Sep 16, 2022 | HK$0.0600 | 1.75% |
FAQ
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