Guoco Group Limited Stock Forecast

Weaker technical forecast for Guoco Group Limited as stock downgraded to Sell Candidate.
(Updated on Jun 20, 2024)

0053.HK Signals & Forecast

There are mixed signals in the stock today. The Guoco Group Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$70.15. On a fall, the stock will find some support from the short-term average at HK$68.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Guoco Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.61%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Guoco Group Limited stock

Guoco Group Limited finds support from accumulated volume at HK$69.35 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 HK$0.600 between high and low, or 0.86%. For the last week the stock has had daily average volatility of 0.642%.

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

Trading Expectations (0053.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Guoco Group Limited to open at HK$69.60, and during the day (based on 14 day Average True Range), to move between HK$68.56 and HK$70.24, which gives a possible trading interval of +/-HK$0.84 (+/-1.20%) up or down from last closing price. If Guoco Group Limited takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$69.35 (0.07%) than the resistance at HK$69.90 (0.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Guoco Group Limited stock A Buy?

Guoco Group Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -2.341 Sell Candidate Downgraded

Predicted Opening Price for Guoco Group Limited of Friday, June 21, 2024

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