Space Group Holdings Ltd Stock Forecast
Space Group Holdings Ltd stock price up more than 8.57% on Tuesday
(Updated on Jul 02, 2024)
The Space Group Holdings Ltd stock price gained 8.57% on the last trading day (Tuesday, 2nd Jul 2024), rising from HK$0.700 to HK$0.760. During the last trading day the stock fluctuated 7.04% from a day low at HK$0.710 to a day high of HK$0.760. The price has fallen in 5 of the last 10 days but is still up by 1.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 350 thousand more shares were traded than the day before. In total, 757 thousand shares were bought and sold for approximately HK$575.04 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19X during the next 3 months and, with a 90% probability hold a price between HK$10.69 and HK$22.13 at the end of this 3-month period.
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2448.HK Signals & Forecast
The Space Group Holdings Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.721 and HK$0.597. A breakdown below any of these levels will issue sell signals. Space Group Holdings Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Thursday, June 06, 2024, and so far it has fallen -6.17%. 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).
Support, Risk & Stop-loss for Space Group Holdings Ltd stock
Space Group Holdings Ltd finds support from accumulated volume at HK$0.730 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$0.0500 between high and low, or 7.04%. For the last week, the stock has had daily average volatility of 9.97%.
Our recommended stop-loss: HK$0.725 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (2448.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Space Group Holdings Ltd to open at HK$0.743, and during the day (based on 14 day Average True Range), to move between HK$0.698 and HK$0.82, which gives a possible trading interval of +/-HK$0.0620 (+/-8.15%) 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 16.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.770 (1.32%) than the support at HK$0.730 (3.95%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Space Group Holdings Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Space Group Holdings Ltd stock to perform well in the short-term.
Current score: 4.486 Buy Candidate Unchanged
Predicted Opening Price for Space Group Holdings Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.743 ( 2.19%) | HK$0.760 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2448.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.793 | 4.39% |
| R2 | 0.774 | 1.87% |
| R1 | 0.762 | 0.320% |
| Price | 0.760 | |
| S1 | 0.724 | -4.71% |
| S2 | 0.712 | -6.26% |
| S3 | 0.693 | -8.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.81 | 6.58% |
| R2 | 0.790 | 3.95% |
| R1 | 0.770 | 1.32% |
| Price | 0.760 | |
| S1 | 0.730 | -3.95% |
| S2 | 0.700 | -7.89% |
| S3 | 0.680 | -10.53% |
FAQ
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