Sino-Ocean Group Holding Limited Stock Forecast

Volatile ride for Sino-Ocean Group Holding Limited stock price on Friday moving between HK$0.325 and HK$0.445
(Updated on May 10, 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.351 and HK$0.291. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 26.23%. 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$0.350 and HK$0.345. 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$0.350. If this is broken, then the next support from accumulated volume will be at HK$0.345 and HK$0.335.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.120 between high and low, or 36.92%. For the last week, the stock has had daily average volatility of 17.34%.

The Sino-Ocean Group Holding Limited stock is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$0.372 (-3.46%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (3377.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Sino-Ocean Group Holding Limited to open at HK$0.385, and during the day (based on 14 day Average True Range), to move between HK$0.347 and HK$0.423, which gives a possible trading interval of +/-HK$0.0380 (+/-9.86%) 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 19.73% 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$0.395 (2.60%) than the support at HK$0.350 (9.09%), 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 Sino-Ocean Group Holding Limited stock A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.875 Buy Candidate Upgraded

Predicted Opening Price for Sino-Ocean Group Holding Limited of Monday, May 13, 2024

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