Silk Road Energy Services Group Limited Stock Forecast

Silk Road Energy Services Group Limited stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)

8250.HK Signals & Forecast

There are mixed signals in the stock today. The Silk Road Energy Services Group Limited 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$0.200. On a fall, the stock will find some support from the short-term average at HK$0.190. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 8.79%. Further rise is indicated until a new top pivot has been found.

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 -9.31% to HK$0.180 within 7 trading days since signal was issued (Monday, June 03, 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$0.196 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.88%.

Our recommended stop-loss: HK$0.191 (-3.65%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (8250.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Silk Road Energy Services Group Limited to open at HK$0.198, and during the day (based on 14 day Average True Range), to move between HK$0.190 and HK$0.206, which gives a possible trading interval of +/-HK$0.0079 (+/-4.01%) 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 8.02% 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$0.196 (1.01%) than the resistance at HK$0.206 (4.04%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.270 Hold/Accumulate Upgraded

Predicted Opening Price for Silk Road Energy Services Group Limited of Monday, June 3, 2024

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