SSPGCOEF ETF/UT HKD Stock Forecast
SSPGCOEF ETF/UT HKD stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 14, 2024)
The SSPGCOEF ETF/UT HKD stock price gained 0.712% on the last trading day (Tuesday, 14th May 2024), rising from HK$7.03 to HK$7.08. During the last trading day the stock fluctuated 0.283% from a day low at HK$7.08 to a day high of HK$7.10. The price has fallen in 7 of the last 10 days and is down by -4.78% for this period. Volume fell on the last day by -130 thousand shares and in total, 21 thousand shares were bought and sold for approximately HK$145.75 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$6.99 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.54% during the next 3 months and, with a 90% probability hold a price between HK$7.52 and HK$8.43 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
3175.HK Signals & Forecast
There are mixed signals in the stock today. The SSPGCOEF ETF/UT HKD stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$7.32. On a fall, the stock will find some support from the short-term average at HK$7.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 1.73%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for SSPGCOEF ETF/UT HKD stock
SSPGCOEF ETF/UT HKD finds support from accumulated volume at HK$7.03 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0200 between high and low, or 0.283%. For the last week the stock has had daily average volatility of 0.671%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3175.HK) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect SSPGCOEF ETF/UT HKD to open at HK$7.08, and during the day (based on 14 day Average True Range), to move between HK$6.97 and HK$7.18, which gives a possible trading interval of +/-HK$0.107 (+/-1.52%) up or down from last closing price. If SSPGCOEF ETF/UT HKD takes out the full calculated possible swing range there will be an estimated 3.04% 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$7.03 (0.64%) than the resistance at HK$7.40 (4.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SSPGCOEF ETF/UT HKD stock A Buy?
SSPGCOEF ETF/UT HKD holds several negative signals and we believe that 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: -1.643 Sell Candidate Downgraded
Predicted Opening Price for SSPGCOEF ETF/UT HKD of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| HK$7.08 ( 0.0942%) | HK$7.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3175.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.10 | 0.377 % | |
| R2 | 7.09 | 0.269 % | ||
| R1 | 7.09 | 0.202 % | ||
| Current price: | 7.08 | |||
| Support | S1 | 7.07 | -0.0138 % | |
| S2 | 7.07 | -0.0805 % | ||
| S3 | 7.06 | -0.188 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.63 | 7.77 % | |
| R2 | 7.54 | 6.57 % | ||
| R1 | 7.40 | 4.59 % | ||
| Current price | 7.08 | |||
| Support | S1 | 7.03 | -0.636% | |
| S2 | 6.99 | -1.20% | ||
| S3 | 6.87 | -2.90% |
FAQ
Click here for our free guide on how to buy SSPGCOEF ETF/UT HKD Stock.
