Solomon Systech (International) Limited Stock Forecast
Volatile ride for Solomon Systech (International) Limited stock price on Friday moving between HK$0.255 and HK$0.295
(Updated on May 24, 2024)
The Solomon Systech (International) Limited stock price fell by -6.90% on the last day (Friday, 24th May 2024) from HK$0.290 to HK$0.270. During the last trading day the stock fluctuated 15.69% from a day low at HK$0.255 to a day high of HK$0.295. The price has fallen in 6 of the last 10 days and is down by -8.47% for this period. Volume has increased on the last day by 5 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, 6 million shares were bought and sold for approximately HK$1.56 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.73% during the next 3 months and, with a 90% probability hold a price between HK$0.232 and HK$0.293 at the end of this 3-month period.
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2878.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Solomon Systech (International) 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$0.291 and HK$0.281. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -12.90%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Solomon Systech (International) Limited stock
Solomon Systech (International) Limited finds support from accumulated volume at HK$0.265 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$0.0400 between high and low, or 15.69%. For the last week, the stock has had daily average volatility of 5.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2878.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Solomon Systech (International) Limited to open at HK$0.273, and during the day (based on 14 day Average True Range), to move between HK$0.256 and HK$0.284, which gives a possible trading interval of +/-HK$0.0142 (+/-5.26%) up or down from last closing price. If Solomon Systech (International) Limited takes out the full calculated possible swing range there will be an estimated 10.51% 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$0.265 (1.85%) than the resistance at HK$0.285 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Solomon Systech (International) Limited stock A Buy?
Solomon Systech (International) Limited holds several negative signals and is within a very 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: -4.172 Sell Candidate Downgraded
Predicted Opening Price for Solomon Systech (International) Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.273 ( 1.23%) | HK$0.270 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2878.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.313 | 16.05 % | |
| R2 | 0.298 | 10.39 % | ||
| R1 | 0.289 | 6.89 % | ||
| Current price: | 0.270 | |||
| Support | S1 | 0.258 | -4.42 % | |
| S2 | 0.249 | -7.92 % | ||
| S3 | 0.233 | -13.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.300 | 11.11 % | |
| R2 | 0.295 | 9.26 % | ||
| R1 | 0.285 | 5.56 % | ||
| Current price | 0.270 | |||
| Support | S1 | 0.265 | -1.85% | |
| S2 | 0.255 | -5.56% | ||
| S3 | 0.250 | -7.41% |
2878 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | HK$0.0100 | 1.85% |
| 2 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | HK$0.0080 | 0.99% |
| 3 | Apr 20, 2010 | Jun 01, 2010 | Jun 01, 2010 | HK$0.0100 | 1.59% |
| 4 | Mar 25, 2009 | May 05, 2009 | May 20, 2009 | HK$0.0300 | 8.22% |
| 5 | Mar 27, 2008 | Apr 29, 2008 | May 22, 2008 | HK$0.0200 | 4.35% |
FAQ
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