Rich Goldman Holdings Limited Stock Forecast

On Tuesday, Rich Goldman Holdings Limited stock price gained an impressive 11.36%
(Updated on Jun 18, 2024)

0070.HK Signals & Forecast

Rich Goldman Holdings Limited 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. The Rich Goldman Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0493 and HK$0.0497. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -20.97%. 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).

Support, Risk & Stop-loss for Rich Goldman Holdings Limited stock

Rich Goldman Holdings Limited finds support from accumulated volume at HK$0.0470 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 HK$0.0010 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 0.417%.

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

Trading Expectations (0070.HK) For The Upcoming Trading Day Of Wednesday 19th

For the upcoming trading day on Wednesday, 19th we expect Rich Goldman Holdings Limited to open at HK$0.0487, and during the day (based on 14 day Average True Range), to move between HK$0.0460 and HK$0.0520, which gives a possible trading interval of +/-HK$0.0030 (+/-6.08%) up or down from last closing price. If Rich Goldman Holdings Limited takes out the full calculated possible swing range there will be an estimated 12.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.0500 (2.04%) than the support at HK$0.0470 (4.08%), 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 Rich Goldman Holdings Limited stock A Buy?

The Rich Goldman Holdings Limited stock holds several negative signals and despite the positive trend, we believe Rich Goldman Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.775 Sell Candidate Downgraded

Predicted Opening Price for Rich Goldman Holdings Limited of Wednesday, June 19, 2024

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