Shanghai Electric Group Company Limited Stock Forecast
Is Shanghai Electric Group Company Limited stock still a buy after falling -5.63% on Thursday?
(Updated on May 02, 2024)
The Shanghai Electric Group Company Limited stock price fell by -5.63% on the last day (Thursday, 2nd May 2024) from HK$1.60 to HK$1.51. During the last trading day the stock fluctuated 5.96% from a day low at HK$1.51 to a day high of HK$1.60. The price has fallen in 6 of the last 10 days and is down by -12.72% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 million shares and in total, 9 million shares were bought and sold for approximately HK$14.16 million.
Given the current short-term trend, the stock is expected to rise 12.37% during the next 3 months and, with a 90% probability hold a price between HK$1.70 and HK$1.95 at the end of this 3-month period.
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2727.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 Shanghai Electric Group Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$1.66 and HK$1.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -12.72%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shanghai Electric Group Company Limited stock
Shanghai Electric Group Company Limited finds support from accumulated volume at HK$1.50 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$0.0900 between high and low, or 5.96%. For the last week, the stock has had daily average volatility of 3.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2727.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Shanghai Electric Group Company Limited to open at HK$1.54, and during the day (based on 14 day Average True Range), to move between HK$1.45 and HK$1.57, which gives a possible trading interval of +/-HK$0.0578 (+/-3.83%) up or down from last closing price. If Shanghai Electric Group Company Limited takes out the full calculated possible swing range there will be an estimated 7.66% 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$1.50 (0.66%) than the resistance at HK$1.57 (3.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shanghai Electric Group Company Limited stock A Buy?
The Shanghai Electric Group Company Limited stock holds several negative signals and despite the positive trend, we believe Shanghai Electric Group Company 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 Buy to a Sell candidate.
Current score: -4.775 Sell Candidate Downgraded
Predicted Opening Price for Shanghai Electric Group Company Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$1.54 ( 1.99%) | HK$1.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2727.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.63 | 7.95 % | |
| R2 | 1.60 | 5.67 % | ||
| R1 | 1.57 | 4.26 % | ||
| Current price: | 1.51 | |||
| Support | S1 | 1.51 | -0.290 % | |
| S2 | 1.48 | -1.70 % | ||
| S3 | 1.45 | -3.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.73 | 14.57 % | |
| R2 | 1.60 | 5.96 % | ||
| R1 | 1.57 | 3.97 % | ||
| Current price | 1.51 | |||
| Support | S1 | 1.50 | -0.662% | |
| S2 | 1.49 | -1.32% | ||
| S3 | 1.48 | -1.99% |
2727 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | HK$0.0862 | 4.56% |
| 2 | Jun 21, 2019 | Jun 21, 2019 | Jun 21, 2019 | HK$0.0699 | 2.50% |
| 3 | Jul 17, 2018 | Jul 17, 2018 | Jul 17, 2018 | HK$0.110 | 4.28% |
| 4 | Jul 10, 2018 | Jul 10, 2018 | Jul 10, 2018 | HK$0.110 | 4.17% |
| 5 | May 12, 2015 | May 12, 2015 | May 12, 2015 | HK$0.0587 | 0.730% |
FAQ
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