Global Bio-chem Technology Group Co Ltd Stock Forecast

Volatile ride for Global Bio-chem Technology Group Co Ltd stock price on Friday moving between HK$0.0910 and HK$0.107
(Updated on May 03, 2024)

0809.HK Signals & Forecast

Mostly positive signals in the chart today. The Global Bio-chem Technology Group Co Ltd 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$0.0950 and HK$0.102. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 25.88%. 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). Global Bio-chem Technology Group Co Ltd 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. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Global Bio-chem Technology Group Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0930 and HK$0.0910. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Global Bio-chem Technology Group Co Ltd finds support just below today's level at HK$0.0930. If this is broken, then the next support from accumulated volume will be at HK$0.0910 and HK$0.0900.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0160 between high and low, or 17.58%. For the last week, the stock has had daily average volatility of 10.39%.

Our recommended stop-loss: HK$0.103 (-3.90%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (0809.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Global Bio-chem Technology Group Company Limited to open at HK$0.102, and during the day (based on 14 day Average True Range), to move between HK$0.0983 and HK$0.116, which gives a possible trading interval of +/-HK$0.0087 (+/-8.11%) up or down from last closing price. If Global Bio-chem Technology Group Company Limited takes out the full calculated possible swing range there will be an estimated 16.23% 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$0.111 (3.74%) than the support at HK$0.0930 (13.08%), 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 Global Bio-chem Technology Group Company Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Global Bio-chem Technology Group Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.846 Buy Candidate Upgraded

Predicted Opening Price for Global Bio-chem Technology Group Company Limited of Monday, May 6, 2024

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