Sino-Ocean Group Holding Limited Stock Forecast

High volatility in Sino-Ocean Group Holding Limited stock price on Friday which ended trading at HK$0.285
(Updated on Apr 26, 2024)

3377.HK Signals & Forecast

Mostly positive signals in the chart today. The Sino-Ocean Group Holding Limited 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$0.251 and HK$0.284. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 20.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Sino-Ocean Group Holding Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.265 and HK$0.260. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sino-Ocean Group Holding Limited finds support just below today's level at HK$0.265. If this is broken, then the next support from accumulated volume will be at HK$0.260 and HK$0.250.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0450 between high and low, or 17.65%. For the last week, the stock has had daily average volatility of 8.31%.

Our recommended stop-loss: HK$0.274 (-3.84%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (3377.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Sino-Ocean Group Holding Limited to open at HK$0.280, and during the day (based on 14 day Average True Range), to move between HK$0.263 and HK$0.307, which gives a possible trading interval of +/-HK$0.0219 (+/-7.67%) up or down from last closing price. If Sino-Ocean Group Holding Limited takes out the full calculated possible swing range there will be an estimated 15.34% 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 (7.02%) than the resistance at HK$0.335 (17.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sino-Ocean Group Holding Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.504 Buy Candidate Upgraded

Predicted Opening Price for Sino-Ocean Group Holding Limited of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.