Simplicity Holding Limited Stock Forecast
Simplicity Holding Limited stock price ended at HK$0.0700 on Monday, after losing 1.41%.
(Updated on May 13, 2024)
The Simplicity Holding Limited stock price fell by -1.41% on the last day (Monday, 13th May 2024) from HK$0.0710 to HK$0.0700. During the last trading day the stock fluctuated 9.38% from a day low at HK$0.0640 to a day high of HK$0.0700. The price has risen in 5 of the last 10 days and is up by 18.64% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 820 thousand shares were bought and sold for approximately HK$57.40 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.0714 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -21.12% during the next 3 months and, with a 90% probability hold a price between HK$0.0399 and HK$0.0563 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8367.HK Signals & Forecast
The Simplicity 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$0.0693 and HK$0.0634. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 18.64%. 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. 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.
Support, Risk & Stop-loss for Simplicity Holding Limited stock
Simplicity Holding Limited finds support from accumulated volume at HK$0.0670 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0060 between high and low, or 9.38%. For the last week the stock has had daily average volatility of 10.35%.
Our recommended stop-loss: HK$0.0674 (-3.78%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (8367.HK) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Simplicity Holding Limited to open at HK$0.0680, and during the day (based on 14 day Average True Range), to move between HK$0.0645 and HK$0.0755, which gives a possible trading interval of +/-HK$0.0055 (+/-7.80%) up or down from last closing price. If Simplicity Holding Limited takes out the full calculated possible swing range there will be an estimated 15.60% 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$0.0710 (1.43%) than the support at HK$0.0670 (4.29%), 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 Simplicity 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.
Current score: 2.613 Buy Candidate Unchanged
Predicted Opening Price for Simplicity Holding Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| HK$0.0680 ( 2.86%) | HK$0.0700 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8367.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0740 | 5.71 % | |
| R2 | 0.0717 | 2.44 % | ||
| R1 | 0.0703 | 0.417 % | ||
| Current price: | 0.0700 | |||
| Support | S1 | 0.0657 | -6.13 % | |
| S2 | 0.0643 | -8.15 % | ||
| S3 | 0.0620 | -11.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0760 | 8.57 % | |
| R2 | 0.0720 | 2.86 % | ||
| R1 | 0.0710 | 1.43 % | ||
| Current price | 0.0700 | |||
| Support | S1 | 0.0670 | -4.29% | |
| S2 | 0.0660 | -5.71% | ||
| S3 | 0.0640 | -8.57% |
FAQ
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