Silk Road Energy Services Group Limited Stock Forecast

Evaluation of Silk Road Energy Services Group Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)

8250.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 6.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Silk Road Energy Services Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.205 and HK$0.202. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should fall by -10.21% to HK$0.180 within 7 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for Silk Road Energy Services Group Limited stock

Silk Road Energy Services Group Limited finds support from accumulated volume at HK$0.199 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$0.0050 between high and low, or 2.50%. For the last week the stock has had daily average volatility of 1.51%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (8250.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Silk Road Energy Services Group Limited to open at HK$0.202, and during the day (based on 14 day Average True Range), to move between HK$0.191 and HK$0.209, which gives a possible trading interval of +/-HK$0.0091 (+/-4.55%) up or down from last closing price. If Silk Road Energy Services Group Limited takes out the full calculated possible swing range there will be an estimated 9.10% 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$0.199 (0.50%) than the resistance at HK$0.206 (3.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Silk Road Energy Services Group Limited stock A Buy?

Silk Road Energy Services Group Limited 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 Buy to a Sell candidate.

Current score: -4.723 Sell Candidate Downgraded

Predicted Opening Price for Silk Road Energy Services Group Limited of Monday, May 20, 2024

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