Great Wall Pan Asia Holdings Limited Stock Forecast

Red day on Thursday for Great Wall Pan Asia Holdings Limited
(Updated on Jun 20, 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$0.313 and HK$0.318. 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. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

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, but be aware of low or falling volume as this increases the risk. 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 0.645%.

Our recommended stop-loss: HK$0.305 (-4.75%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (0583.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st 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$0.312 and HK$0.328, which gives a possible trading interval of +/-HK$0.0082 (+/-2.58%) 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 5.15% 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.

Current score: 0.209 Hold/Accumulate Unchanged

Predicted Opening Price for Great Wall Pan Asia Holdings Limited of Friday, June 21, 2024

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