GCL New Energy Holdings Limited Stock Forecast
GCL New Energy Holdings Limited stock downgraded to Buy Candidate
(Updated on Jun 26, 2024)
The GCL New Energy Holdings Limited stock price fell by -1.01% on the last day (Wednesday, 26th Jun 2024) from HK$0.495 to HK$0.490. During the last trading day the stock fluctuated 7.37% from a day low at HK$0.475 to a day high of HK$0.510. The price has risen in 5 of the last 10 days and is up by 15.29% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 million shares and in total, 3 million shares were bought and sold for approximately HK$1.61 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$0.498 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 49.71% during the next 3 months and, with a 90% probability hold a price between HK$0.632 and HK$0.745 at the end of this 3-month period.
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0451.HK Signals & Forecast
The GCL New Energy Holdings 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$0.450 and HK$0.441. A breakdown below any of these levels will issue sell signals. 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 Tuesday, June 25, 2024, and so far it has fallen -1.01%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for GCL New Energy Holdings Limited stock
GCL New Energy Holdings Limited finds support from accumulated volume at HK$0.485 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 HK$0.0350 between high and low, or 7.37%. For the last week, the stock has had daily average volatility of 7.23%.
Our recommended stop-loss: HK$0.471 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (0451.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect GCL New Energy Holdings Limited to open at HK$0.492, and during the day (based on 14 day Average True Range), to move between HK$0.462 and HK$0.518, which gives a possible trading interval of +/-HK$0.0281 (+/-5.73%) up or down from last closing price. If GCL New Energy Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.46% 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$0.495 (1.02%) than the support at HK$0.485 (1.02%), 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 GCL New Energy Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for GCL New Energy Holdings Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.886 Buy Candidate Downgraded
Predicted Opening Price for GCL New Energy Holdings Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.492 ( 0.340%) | HK$0.490 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0451.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.527 | 7.48% |
| R2 | 0.513 | 4.75% |
| R1 | 0.505 | 3.07% |
| Price | 0.490 | |
| S1 | 0.478 | -2.39% |
| S2 | 0.470 | -4.07% |
| S3 | 0.457 | -6.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.495 | 1.02% |
| Price | 0.490 | |
| S1 | 0.485 | -1.02% |
| S2 | 0.445 | -9.18% |
| S3 | 0.425 | -13.27% |
0451 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 21, 2008 | Aug 21, 2008 | Aug 21, 2008 | HK$0.0165 | 22.73% |
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