Shinhan Financial Group Company Ltd Stock Forecast

Shinhan Financial Group Company Ltd stock price ended at £14.75 on Friday, after losing 0%.
(Updated on Apr 26, 2024)

SHG.L Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The Shinhan Financial Group Company Ltd 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 £14.71 and £14.33. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Shinhan Financial Group Company Ltd stock

Shinhan Financial Group Company Ltd finds support from accumulated volume at £14.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0.100 between high and low, or 0.680%. For the last week the stock has had daily average volatility of 0.656%.

Our recommended stop-loss: £14.24 (-3.46%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (SHG.L) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Shinhan Financial Group Company Ltd to open at £14.75, and during the day (based on 14 day Average True Range), to move between £14.53 and £14.97, which gives a possible trading interval of +/-£0.224 (+/-1.52%) up or down from last closing price. If Shinhan Financial Group Company Ltd takes out the full calculated possible swing range there will be an estimated 3.04% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £14.74, some £0.0100 (0.07%) from the current price of £14.75, our system finds the risk reward attractive.

Is Shinhan Financial Group Company Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shinhan Financial Group Company Ltd stock to perform well in the short-term.

Current score: 1.996 Buy Candidate Unchanged

Predicted Opening Price for Shinhan Financial Group Company Ltd of Monday, April 29, 2024

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