Great Wall Pan Asia Holdings Limited Stock Forecast

Great Wall Pan Asia Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)

0583.HK Signals & Forecast

The Great Wall Pan Asia Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.314 and HK$0.317. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 6.67%. Further rise is indicated until a new top pivot has been found. Great Wall Pan Asia 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should fall by -5.21% to HK$0.303 within 3 trading days since signal was issued (Monday, June 17, 2024).

Support, Risk & Stop-loss for Great Wall Pan Asia Holdings Limited stock

Great Wall Pan Asia Holdings Limited finds support from accumulated volume at HK$0.305 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.328%.

Our recommended stop-loss: HK$0.306 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (0583.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Great Wall Pan Asia Holdings Limited to open at HK$0.320, and during the day (based on 14 day Average True Range), to move between HK$0.311 and HK$0.329, which gives a possible trading interval of +/-HK$0.0087 (+/-2.71%) up or down from last closing price. If Great Wall Pan Asia Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.42% 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$0.325 (1.56%) than the support at HK$0.305 (4.69%), 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 Great Wall Pan Asia Holdings Limited stock A Buy?

Great Wall Pan Asia Holdings 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Great Wall Pan Asia Holdings Limited of Monday, June 17, 2024

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