Golden Resources Development Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Golden Resources Development stock upgraded to Hold/Accumulate.
(Updated on Jul 03, 2024)
No changes to the price of Golden Resources Development stock on the last trading day (Wednesday, 3rd Jul 2024). During the last trading day the stock fluctuated 1.20% from a day low at HK$0.415 to a day high of HK$0.420. The price has been going up and down for this period, and there has been a -1.18% loss for the last 2 weeks.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately HK$0.420 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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0677.HK Signals & Forecast
There are mixed signals in the stock today. The Golden Resources Development stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.430 and HK$0.433. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Tuesday, July 02, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Golden Resources Development stock
Golden Resources Development finds support from accumulated volume at HK$0.415 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$0.0050 between high and low, or 1.20%. For the last week the stock has had daily average volatility of 1.88%
Our recommended stop-loss: HK$0.394 (-6.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (0677.HK) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Golden Resources Development International Limited to open at HK$0.418, and during the day (based on 14 day Average True Range), to move between HK$0.413 and HK$0.427, which gives a possible trading interval of +/-HK$0.0075 (+/-1.78%) 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 3.56% 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$0.425 (1.19%) than the support at HK$0.415 (1.19%), 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?
Golden Resources Development 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: -0.733 Hold/Accumulate Upgraded
Predicted Opening Price for Golden Resources Development International Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| HK$0.418 ( 0.397%) | HK$0.420 |
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 | |
|---|---|---|
| R3 | 0.423 | 0.794% |
| R2 | 0.421 | 0.339% |
| R1 | 0.420 | 0.0579% |
| Price | 0.420 | |
| S1 | 0.416 | -0.85% |
| S2 | 0.415 | -1.13% |
| S3 | 0.413 | -1.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.435 | 3.57% |
| R2 | 0.430 | 2.38% |
| R1 | 0.425 | 1.19% |
| Price | 0.420 | |
| S1 | 0.415 | -1.19% |
| S2 | 0 | - |
| S3 | 0 | - |
0677 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 02, 2024 | Sep 02, 2024 | Sep 20, 2024 | HK$0.0120 | 2.86% |
| 2 | Dec 12, 2023 | Dec 12, 2023 | Jan 15, 2024 | HK$0.0110 | 2.42% |
| 3 | Sep 04, 2023 | Sep 04, 2023 | Sep 19, 2023 | HK$0.0145 | 2.30% |
| 4 | Dec 12, 2022 | Dec 12, 2022 | Dec 12, 2022 | HK$0.0120 | 2.40% |
| 5 | Dec 08, 2022 | Dec 08, 2022 | Dec 08, 2022 | HK$0.0120 | 2.35% |
FAQ
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