Sino United Worldwide Consolidated Ltd. Stock Forecast
Volatile ride for Sino United Worldwide Consolidated Ltd. stock price on Wednesday moving between $1.39 and $1.72
(Updated on May 22, 2024)
The Sino United Worldwide Consolidated Ltd. stock price gained 33.33% on the last trading day (Wednesday, 22nd May 2024), rising from $1.29 to $1.72. During the last trading day the stock fluctuated 24.19% from a day low at $1.39 to a day high of $1.72. The price has fallen in 4 of the last 10 days and is down by -1.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 34 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately $59.33 thousand.
Given the current short-term trend, the stock is expected to fall -11.93% during the next 3 months and, with a 90% probability hold a price between $1.08 and $1.51 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SUIC Signals & Forecast
The Sino United Worldwide Consolidated Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.44 and $1.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 20, 2024, and so far it has risen 39.91%. Further rise is indicated until a new top pivot has been found. Sino United Worldwide Consolidated Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sino United Worldwide Consolidated Ltd. stock
Sino United Worldwide Consolidated Ltd. finds support from accumulated volume at $1.67 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.335 between high and low, or 24.19%. For the last week, the stock has had daily average volatility of 8.53%.
Our recommended stop-loss: $1.65 (-3.94%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (SUIC) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Sino United Worldwide Consolidated Ltd. to open at $1.61, and during the day (based on 14 day Average True Range), to move between $1.55 and $1.89, which gives a possible trading interval of +/-$0.173 (+/-10.04%) up or down from last closing price. If Sino United Worldwide Consolidated Ltd. takes out the full calculated possible swing range there will be an estimated 20.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.73 (0.58%) than the support at $1.67 (2.91%), 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 Sino United Worldwide Consolidated Ltd. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.113 Buy Candidate Upgraded
Predicted Opening Price for Sino United Worldwide Consolidated Ltd. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| $1.61 ( 6.49%) | $1.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUIC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.94 | 12.98 % | |
| R2 | 1.82 | 5.54 % | ||
| R1 | 1.74 | 0.95 % | ||
| Current price: | 1.72 | |||
| Support | S1 | 1.48 | -13.93 % | |
| S2 | 1.40 | -18.53 % | ||
| S3 | 1.27 | -25.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.80 | 4.65 % | |
| R2 | 1.74 | 0.93 % | ||
| R1 | 1.73 | 0.581 % | ||
| Current price | 1.72 | |||
| Support | S1 | 1.67 | -2.91% | |
| S2 | 1.50 | -12.79% | ||
| S3 | 1.45 | -15.70% |
FAQ
Click here for our free guide on how to buy Sino United Worldwide Consolidated Ltd. Stock.
