SHG Price Prediction Next Week
Technical Analysis: SHG is currently in a downtrend with bearish technical indicators. The RSI-14 reading of 41.51 indicates neutral to slightly oversold conditions. The MACD shows a bearish signal with -0.28, and the histogram (-0.06) suggests continued downward momentum.
Price Levels and Support/Resistance:
- Current price: $33.63
- Key resistance levels: $34.38 (Fibonacci R1), $34.64 (Fibonacci R2)
- Key support levels: $33.52 (Fibonacci S1), $33.25 (Fibonacci S2)
- Moving averages show bearish alignment with price below SMA200 ($37.89) and SMA60 ($35.09)
News Sentiment Analysis: Recent news indicates that SHG entered oversold territory with improving fundamentals. Validea's Contrarian Investor model upgraded SHG's rating from 70% to 84%, suggesting potential value opportunity.
Price Prediction for Next Week: Based on technical indicators and Fibonacci levels:
- Bearish scenario (60% probability): Price likely to test $33.25 support
- Neutral scenario (30% probability): Consolidation between $33.52-$34.38
- Bullish scenario (10% probability): Bounce towards $34.64
Target Price: $33.25
Recommendation: SELL
- Entry: Current market price ($33.63)
- Stop loss: $34.38 (Fibonacci R1)
- Target: $33.25 (Fibonacci S2)
Rationale:
- Bearish technical indicators
- Price below major moving averages
- Negative MACD crossover
- Weak momentum indicated by Stochastic RSI (31.27)
SHG Similar Chart Price Prediction
The price of SHG is predicted to go up 3.69%, based on the high correlation periods with TPVG. The similarity of these two price pattern on the periods is 92.31%.
SHG
TPVG
Up: 3.69%Similarity: 92.31%
