Space Group Holdings Ltd Stock Forecast

High volatility in Space Group Holdings Ltd stock price on Thursday which ended trading at HK$0.730
(Updated on Jun 20, 2024)

2448.HK Signals & Forecast

A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -9.88%. 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). Space Group Holdings Ltd 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". Some positive signals were issued as well, and these may have some influence on the near short-term development. The Space Group Holdings 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$0.753. On a fall, the stock will find some support from the long-term average at approximately HK$0.460. 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.

Support, Risk & Stop-loss for Space Group Holdings Ltd stock

Space Group Holdings Ltd finds support from accumulated volume at HK$0.720 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$0.0700 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 6.46%.

Our recommended stop-loss: HK$0.695 (-4.80%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (2448.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Space Group Holdings Ltd to open at HK$0.733, and during the day (based on 14 day Average True Range), to move between HK$0.675 and HK$0.785, which gives a possible trading interval of +/-HK$0.0552 (+/-7.56%) up or down from last closing price. If Space Group Holdings Ltd takes out the full calculated possible swing range there will be an estimated 15.12% 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$0.720 (1.37%) than the resistance at HK$0.770 (5.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Space Group Holdings Ltd stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.295 Buy Candidate Unchanged

Predicted Opening Price for Space Group Holdings Ltd of Friday, June 21, 2024

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