Global Bio-chem Technology Group Co Ltd Stock Forecast
Red day on Thursday for Global Bio-chem Technology Group Co Ltd
(Updated on May 23, 2024)
The Global Bio-chem Technology Group Co Ltd stock price fell by -2.08% on the last day (Thursday, 23rd May 2024) from HK$0.0960 to HK$0.0940. During the last trading day the stock fluctuated 3.19% from a day low at HK$0.0940 to a day high of HK$0.0970. The price has risen in 5 of the last 10 days but is still down by -1.05% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 124 thousand shares were bought and sold for approximately HK$11.66 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.33% during the next 3 months and, with a 90% probability hold a price between HK$0.0694 and HK$0.0909 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0809.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Global Bio-chem Technology Group Co Ltd 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$0.0941 and HK$0.0968. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -12.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Global Bio-chem Technology Group Co Ltd stock
Global Bio-chem Technology Group Co Ltd finds support from accumulated volume at HK$0.0930 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$0.0030 between high and low, or 3.19%. For the last week the stock has had daily average volatility of 7.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0809.HK) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Global Bio-chem Technology Group Company Limited to open at HK$0.0950, and during the day (based on 14 day Average True Range), to move between HK$0.0858 and HK$0.102, which gives a possible trading interval of +/-HK$0.0082 (+/-8.77%) 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 17.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.0930 (1.06%) than the resistance at HK$0.0960 (2.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Global Bio-chem Technology Group Company Limited stock A Buy?
Global Bio-chem Technology Group Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.908 Sell Candidate Unchanged
Predicted Opening Price for Global Bio-chem Technology Group Company Limited of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
HK$0.0950 ( 1.06%) | HK$0.0940 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0809.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0980 | 4.26 % | |
R2 | 0.0969 | 3.04 % | ||
R1 | 0.0961 | 2.28 % | ||
Current price: | 0.0940 | |||
Support | S1 | 0.0939 | -0.155 % | |
S2 | 0.0931 | -0.91 % | ||
S3 | 0.0920 | -2.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.115 | 22.34 % | |
R2 | 0.107 | 13.83 % | ||
R1 | 0.0960 | 2.13 % | ||
Current price | 0.0940 | |||
Support | S1 | 0.0930 | -1.06% | |
S2 | 0.0910 | -3.19% | ||
S3 | 0.0900 | -4.26% |
0809 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 15, 2012 | May 15, 2012 | May 15, 2012 | HK$0.0200 | 1.47% |
2 | Sep 30, 2011 | Sep 30, 2011 | Sep 30, 2011 | HK$0.0150 | 1.06% |
3 | May 11, 2011 | May 11, 2011 | May 11, 2011 | HK$0.0100 | 0.435% |
4 | May 25, 2009 | May 25, 2009 | May 25, 2009 | HK$0.0086 | 0.730% |
5 | Oct 16, 2008 | Oct 16, 2008 | Oct 16, 2008 | HK$0.0129 | 0.96% |
FAQ
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