Ground International Development Limited Stock Forecast

Big movements in Ground International Development Limited stock price on Friday moving 23.08% between high and low
(Updated on Jun 28, 2024)

0989.HK Signals & Forecast

There are mixed signals in the stock today. The Ground International Development Limited 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$0.0464 and HK$0.0617. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 2.27%. 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). Ground International Development Limited 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Ground International Development Limited stock

Ground International Development Limited finds support from accumulated volume at HK$0.0440 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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$0.0090 between high and low, or 23.08%. For the last week, the stock has had daily average volatility of 10.86%.

Ground International Development Limited is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0989.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Ground International Development Limited to open at HK$0.0440, and during the day (based on 14 day Average True Range), to move between HK$0.0381 and HK$0.0519, which gives a possible trading interval of +/-HK$0.0069 (+/-15.31%) up or down from last closing price. If Ground International Development Limited takes out the full calculated possible swing range there will be an estimated 30.62% 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$0.0440 (2.22%) than the resistance at HK$0.0470 (4.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ground International Development Limited stock A Buy?

Ground International Development Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.795 Sell Candidate Unchanged

Predicted Opening Price for Ground International Development Limited of Tuesday, July 2, 2024

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