Glorious Sun Enterprises Limited Stock Forecast

Stronger technical forecast for Glorious Sun Enterprises Limited stock price after Friday trading.
(Updated on Apr 26, 2024)

0393.HK Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen 0%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Glorious Sun Enterprises Limited 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 HK$0.84 and HK$0.84. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Glorious Sun Enterprises Limited stock

Glorious Sun Enterprises Limited finds support from accumulated volume at HK$0.84 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0200 between high and low, or 2.41%. For the last week the stock has had daily average volatility of 1.68%

Our recommended stop-loss: HK$0.82 (-3.36%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (0393.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Glorious Sun Enterprises Limited to open at HK$0.84, and during the day (based on 14 day Average True Range), to move between HK$0.84 and HK$0.86, which gives a possible trading interval of +/-HK$0.0139 (+/-1.64%) up or down from last closing price. If Glorious Sun Enterprises Limited takes out the full calculated possible swing range there will be an estimated 3.28% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.84, some HK$0.0100 (1.18%) from the current price of HK$0.85, our system finds the risk reward attractive.

Is Glorious Sun Enterprises Limited stock A Buy?

Glorious Sun Enterprises Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.120 Hold/Accumulate Upgraded

Predicted Opening Price for Glorious Sun Enterprises Limited of Monday, April 29, 2024

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