Standard Chartered PLC Stock Forecast
Green day on Friday for Standard Chartered PLC
(Updated on Apr 26, 2024)
The Standard Chartered PLC stock price gained 1.05% on the last trading day (Friday, 26th Apr 2024), rising from HK$66.80 to HK$67.50. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.87% from a day low at HK$66.75 to a day high of HK$68.00. The price has risen in 6 of the last 10 days and is up by 2.58% 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, 72 thousand more shares were traded than the day before. In total, 536 thousand shares were bought and sold for approximately HK$36.21 million.
The stock lies in the middle of a 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 14.20% during the next 3 months and, with a 90% probability hold a price between HK$72.97 and HK$80.84 at the end of this 3-month period.
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2888.HK Signals & Forecast
The Standard Chartered PLC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$65.42 and HK$65.95. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, April 05, 2024, and so far it has fallen -1.53%. 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 Standard Chartered PLC stock
Standard Chartered PLC finds support from accumulated volume at HK$66.05 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$1.25 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: HK$64.64 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (2888.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Standard Chartered PLC to open at HK$67.42, and during the day (based on 14 day Average True Range), to move between HK$66.15 and HK$68.85, which gives a possible trading interval of +/-HK$1.35 (+/-2.00%) up or down from last closing price. If Standard Chartered PLC takes out the full calculated possible swing range there will be an estimated 4.00% 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$68.10 (0.89%) than the support at HK$66.05 (2.15%), 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 Standard Chartered PLC stock A Buy?
Standard Chartered PLC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.547 Hold/Accumulate Unchanged
Predicted Opening Price for Standard Chartered PLC of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$67.42 ( 0.123%) | HK$67.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2888.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.67 | 1.73 % | |
| R2 | 68.19 | 1.02 % | ||
| R1 | 67.89 | 0.584 % | ||
| Current price: | 67.50 | |||
| Support | S1 | 66.94 | -0.83 % | |
| S2 | 66.64 | -1.27 % | ||
| S3 | 66.17 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.55 | 1.56 % | |
| R2 | 68.40 | 1.33 % | ||
| R1 | 68.10 | 0.89 % | ||
| Current price | 67.50 | |||
| Support | S1 | 66.05 | -2.15% | |
| S2 | 65.50 | -2.96% | ||
| S3 | 59.00 | -12.59% |
2888 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | May 17, 2024 | HK$1.64 | 2.43% |
| 2 | Mar 06, 2024 | Mar 06, 2024 | May 17, 2024 | HK$0.210 | 0.311% |
| 3 | Feb 23, 2023 | Feb 23, 2023 | Feb 23, 2023 | HK$0.140 | 0.196% |
| 4 | Aug 11, 2022 | Aug 11, 2022 | Aug 11, 2022 | HK$0.0400 | 0.0694% |
| 5 | Feb 23, 2022 | Feb 23, 2022 | Feb 23, 2022 | HK$0.0900 | 0.147% |
FAQ
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