Shine Corporate Ltd Stock Forecast

Evaluation of Shine Corporate Ltd stock downgraded after the last trading session.
(Updated on May 17, 2024)

SHJ.AX Signals & Forecast

There are few to no technical positive signals at the moment. The Shine Corporate Ltd 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 $0.715 and $0.713. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -13.13%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shine Corporate Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.650 and $0.645. 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, Shine Corporate Ltd finds support just below today's level at $0.650. If this is broken, then the next support from accumulated volume will be at $0.645 and $0.595.

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 $0.0050 between high and low, or 0.719%. For the last week the stock has had daily average volatility of 1.99%.

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

Trading Expectations (SHJ.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Shine Corporate Ltd to open at $0.697, and during the day (based on 14 day Average True Range), to move between $0.676 and $0.714, which gives a possible trading interval of +/-$0.0187 (+/-2.69%) up or down from last closing price. If Shine Corporate Ltd takes out the full calculated possible swing range there will be an estimated 5.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.705 (1.44%) than the support at $0.650 (6.47%), 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 Shine Corporate Ltd stock A Buy?

The Shine Corporate Ltd stock holds several negative signals and despite the positive trend, we believe Shine Corporate Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.

Current score: -4.921 Sell Candidate Downgraded

Predicted Opening Price for Shine Corporate Ltd of Monday, May 20, 2024

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