Golden Resources Development Stock Forecast
Golden Resources Development stock price up 1.14% on Friday
(Updated on May 24, 2024)
The Golden Resources Development stock price gained 1.14% on the last trading day (Friday, 24th May 2024), rising from HK$0.440 to HK$0.445. During the last trading day the stock fluctuated 2.30% from a day low at HK$0.435 to a day high of HK$0.445. The price has fallen in 4 of the last 10 days but is still up by 4.71% over the past 2 weeks. Volume fell on the last day by -146 thousand shares and in total, 244 thousand shares were bought and sold for approximately HK$108.58 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.22% during the next 3 months and, with a 90% probability hold a price between HK$0.427 and HK$0.476 at the end of this 3-month period.
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0677.HK Signals & Forecast
The Golden Resources Development 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$0.444 and HK$0.430. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, May 20, 2024, and so far it has fallen -4.30%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Golden Resources Development stock
Golden Resources Development finds support from accumulated volume at HK$0.425 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$0.0100 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 3.87%.
Our recommended stop-loss: HK$0.431 (-3.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (0677.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Golden Resources Development International Limited to open at HK$0.442, and during the day (based on 14 day Average True Range), to move between HK$0.432 and HK$0.458, which gives a possible trading interval of +/-HK$0.0125 (+/-2.82%) up or down from last closing price. If Golden Resources Development International Limited takes out the full calculated possible swing range there will be an estimated 5.63% 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$0.450 (1.12%) than the support at HK$0.425 (4.49%), 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 Golden Resources Development International 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 Golden Resources Development stock to perform well in the short-term.
Current score: 2.380 Buy Candidate Unchanged
Predicted Opening Price for Golden Resources Development International Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.442 ( 0.749%) | HK$0.445 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0677.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.452 | 1.50 % | |
| R2 | 0.448 | 0.640 % | ||
| R1 | 0.445 | 0.109 % | ||
| Current price: | 0.445 | |||
| Support | S1 | 0.438 | -1.61 % | |
| S2 | 0.435 | -2.14 % | ||
| S3 | 0.432 | -3.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.465 | 4.49 % | ||
| R1 | 0.450 | 1.12 % | ||
| Current price | 0.445 | |||
| Support | S1 | 0.425 | -4.49% | |
| S2 | 0.420 | -5.62% | ||
| S3 | 0.415 | -6.74% |
0677 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 12, 2023 | Dec 12, 2023 | Dec 12, 2023 | HK$0 | 0% |
| 2 | Dec 12, 2022 | Dec 12, 2022 | Dec 12, 2022 | HK$0.0120 | 2.40% |
| 3 | Dec 08, 2022 | Dec 08, 2022 | Dec 08, 2022 | HK$0.0120 | 2.35% |
| 4 | Sep 02, 2022 | Sep 02, 2022 | Sep 02, 2022 | HK$0.0120 | 2.50% |
| 5 | Dec 09, 2021 | Dec 09, 2021 | Dec 09, 2021 | HK$0.0120 | 2.35% |
FAQ
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