Sun Art Retail Group Limited Stock Forecast
A very strong day for Sun Art Retail Group Limited stock price on Friday
(Updated on May 17, 2024)
The Sun Art Retail Group Limited stock price gained 5.39% on the last trading day (Friday, 17th May 2024), rising from HK$1.67 to HK$1.76. During the last trading day the stock fluctuated 6.02% from a day low at HK$1.66 to a day high of HK$1.76. The price has risen in 5 of the last 10 days and is up by 6.67% 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, 6 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately HK$19.16 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 34.30% during the next 3 months and, with a 90% probability hold a price between HK$2.12 and HK$2.58 at the end of this 3-month period.
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6808.HK Signals & Forecast
Mostly positive signals in the chart today. The Sun Art Retail Group 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$1.68 and HK$1.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 24.82%. 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 Sun Art Retail Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$1.54 and HK$1.51. 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, Sun Art Retail Group Limited finds support just below today's level at HK$1.54. If this is broken, then the next support from accumulated volume will be at HK$1.51 and HK$1.47.
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$0.100 between high and low, or 6.02%. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: HK$1.66 (-5.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (6808.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sun Art Retail Group Limited to open at HK$1.73, and during the day (based on 14 day Average True Range), to move between HK$1.69 and HK$1.83, which gives a possible trading interval of +/-HK$0.0678 (+/-3.85%) up or down from last closing price. If Sun Art Retail Group Limited takes out the full calculated possible swing range there will be an estimated 7.70% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1.54, some HK$0.220 (12.50%) from the current price of HK$1.76, our system finds the risk reward attractive.
Earnings coming up
Sun Art Retail Group Limited will release earnings BMO on Tuesday, May 21, 2024. We will update the financials statements for Sun Art Retail Group Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.09% in the first trading day after earnings release.
Is Sun Art Retail Group Limited stock A Buy?
Sun Art Retail Group Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.705 Strong Buy Candidate Upgraded
Predicted Opening Price for Sun Art Retail Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$1.73 ( 1.89%) | HK$1.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6808.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.83 | 3.79 % | |
| R2 | 1.79 | 1.62 % | ||
| R1 | 1.76 | 0.277 % | ||
| Current price: | 1.76 | |||
| Support | S1 | 1.69 | -4.06 % | |
| S2 | 1.66 | -5.41 % | ||
| S3 | 1.63 | -7.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.76 | |||
| Support | S1 | 1.54 | -12.50% | |
| S2 | 1.51 | -14.20% | ||
| S3 | 1.47 | -16.48% |
6808 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 22, 2022 | Aug 22, 2022 | Aug 22, 2022 | HK$0.0450 | 2.17% |
| 2 | Aug 16, 2021 | Aug 16, 2021 | Aug 16, 2021 | HK$0.130 | 2.74% |
| 3 | Feb 20, 2020 | May 18, 2020 | Jun 15, 2020 | HK$0.150 | 1.29% |
| 4 | Mar 03, 2019 | May 22, 2019 | Jun 14, 2019 | HK$0.140 | 1.98% |
| 5 | Mar 04, 2018 | May 15, 2018 | Jun 15, 2018 | HK$0.160 | 1.52% |
FAQ
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