Shinhan Financial Group Company Ltd Stock Forecast
Shinhan Financial Group Company Ltd stock price up 0.0069% on Thursday
(Updated on Apr 18, 2024)
The Shinhan Financial Group Company Ltd stock price gained 0.0069% on the last trading day (Thursday, 18th Apr 2024), rising from £14.50 to £14.50. During the last trading day the stock fluctuated 1.39% from a day low at £14.40 to a day high of £14.60. The price has risen in 6 of the last 10 days and is up by 1.41% over the past 2 weeks. Volume fell on the last day by -564 thousand shares and in total, 2 million shares were bought and sold for approximately £33.55 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.51% during the next 3 months and, with a 90% probability hold a price between £16.05 and £16.88 at the end of this 3-month period.
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SHG.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -0.165%. 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). 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 £14.47 and £14.08. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Shinhan Financial Group Company Ltd stock
Shinhan Financial Group Company Ltd finds support from accumulated volume at £14.50 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 £0.200 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: £13.99 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SHG.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Shinhan Financial Group Company Ltd to open at £14.50, and during the day (based on 14 day Average True Range), to move between £14.22 and £14.78, which gives a possible trading interval of +/-£0.280 (+/-1.93%) 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 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £14.50 (0.01%) than the resistance at £14.53 (0.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: 1.628 Buy Candidate Unchanged
Predicted Opening Price for Shinhan Financial Group Company Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £14.50 ( 0.0046%) | £14.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.70 | 1.37 % | |
| R2 | 14.62 | 0.85 % | ||
| R1 | 14.58 | 0.522 % | ||
| Current price: | 14.50 | |||
| Support | S1 | 14.42 | -0.531 % | |
| S2 | 14.38 | -0.86 % | ||
| S3 | 14.30 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 14.53 | 0.166 % | ||
| Current price | 14.50 | |||
| Support | S1 | 14.50 | -0.0069% | |
| S2 | 13.20 | -8.97% | ||
| S3 | 13.10 | -9.66% |
SHG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 26, 2024 | £0.150 | 1.03% |
| 2 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £0.100 | 0.85% |
| 3 | Sep 05, 2022 | Oct 20, 2022 | Nov 24, 2022 | £0.100 | 0.99% |
| 4 | Jun 07, 2022 | Jun 16, 2022 | Jul 15, 2022 | £0.100 | 1.16% |
| 5 | Aug 27, 2021 | Oct 07, 2021 | Oct 29, 2021 | £0.100 | 0.784% |
FAQ
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