Guangdong Goworld Co., Ltd Stock Forecast
Guangdong Goworld Co., Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)
The Guangdong Goworld Co., Ltd stock price gained 1.71% on the last trading day (Friday, 21st Jun 2024), rising from ¥8.20 to ¥8.34. During the last trading day the stock fluctuated 5.62% from a day low at ¥8.00 to a day high of ¥8.45. The price has risen in 7 of the last 10 days and is up by 8.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately ¥143.68 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ¥8.61 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Guangdong Goworld Co., Ltd stock with a 90% probability to be traded between ¥7.08 and ¥8.45 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000823.SZ Signals & Forecast
The Guangdong Goworld Co., 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 ¥8.33 and ¥8.03. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -3.25%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Guangdong Goworld Co., Ltd stock
Guangdong Goworld Co., Ltd finds support from accumulated volume at ¥8.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.450 between high and low, or 5.62%. For the last week, the stock has had daily average volatility of 7.26%.
Our recommended stop-loss: ¥7.96 (-4.53%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (000823.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Guangdong Goworld Co., Ltd to open at ¥8.26, and during the day (based on 14 day Average True Range), to move between ¥7.82 and ¥8.86, which gives a possible trading interval of +/-¥0.515 (+/-6.18%) up or down from last closing price. If Guangdong Goworld Co., Ltd takes out the full calculated possible swing range there will be an estimated 12.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.35 (0.12%) than the support at ¥8.18 (1.92%), 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 Guangdong Goworld Co., Ltd stock A Buy?
Guangdong Goworld Co., Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.467 Hold/Accumulate Downgraded
Predicted Opening Price for Guangdong Goworld Co., Ltd of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
¥8.26 ( 0.92%) | ¥8.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000823.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 8.71 | 4.48% |
R2 | 8.54 | 2.42% |
R1 | 8.44 | 1.14% |
Price | 8.34 | |
S1 | 8.09 | -2.98% |
S2 | 7.99 | -4.25% |
S3 | 7.81 | -6.31% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 8.62 | 3.36% |
R2 | 8.38 | 0.480% |
R1 | 8.35 | 0.120% |
Price | 8.34 | |
S1 | 8.18 | -1.92% |
S2 | 8.05 | -3.48% |
S3 | 7.88 | -5.52% |
000823 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | ¥0.100 | 1.29% |
2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ¥0.100 | 1.07% |
3 | Jun 28, 2022 | Jun 28, 2022 | Jun 28, 2022 | ¥0.100 | 0.95% |
4 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | ¥0.130 | 1.20% |
5 | Jun 16, 2020 | Jun 16, 2020 | Jun 16, 2020 | ¥0.100 | 0.781% |
FAQ
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