G-Resources Group Limited Stock Forecast
Red day on Thursday for G-Resources Group Limited
(Updated on Jun 20, 2024)
The G-Resources Group Limited stock price fell by -0.769% on the last day (Thursday, 20th Jun 2024) from HK$2.60 to HK$2.58. During the last trading day the stock fluctuated 1.18% from a day low at HK$2.55 to a day high of HK$2.58. The price has fallen in 4 of the last 10 days. 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 -500 thousand shares and in total, 61 thousand shares were bought and sold for approximately HK$158.33 thousand.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$2.55 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.90% during the next 3 months and, with a 90% probability hold a price between HK$2.78 and HK$2.96 at the end of this 3-month period.
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1051.HK Signals & Forecast
There are few to no technical positive signals at the moment. The G-Resources Group 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$2.59 and HK$2.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -3.01%. 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.
Support, Risk & Stop-loss for G-Resources Group Limited stock
G-Resources Group Limited finds support from accumulated volume at HK$2.56 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$0.0300 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 0.94%
Our recommended stop-loss: HK$2.46 (-4.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (1051.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect G-Resources Group Limited to open at HK$2.57, and during the day (based on 14 day Average True Range), to move between HK$2.52 and HK$2.64, which gives a possible trading interval of +/-HK$0.0595 (+/-2.31%) up or down from last closing price. If G-Resources Group Limited takes out the full calculated possible swing range there will be an estimated 4.61% 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$2.59 (0.39%) than the support at HK$2.56 (0.78%), 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.
Earnings coming up
G-Resources Group Limited will release earnings BMO on Friday, June 28, 2024. We will update the financials statements for G-Resources Group Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.42% in the first trading day after earnings release.
Is G-Resources Group Limited stock A Buy?
G-Resources Group Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.648 Hold/Accumulate Unchanged
Predicted Opening Price for G-Resources Group Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$2.57 ( 0.388%) | HK$2.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1051.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.60 | 0.775% |
| R2 | 2.59 | 0.331% |
| R1 | 2.58 | 0.0566% |
| Price | 2.58 | |
| S1 | 2.56 | -0.83% |
| S2 | 2.55 | -1.11% |
| S3 | 2.54 | -1.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.66 | 3.10% |
| R2 | 2.60 | 0.775% |
| R1 | 2.59 | 0.388% |
| Price | 2.58 | |
| S1 | 2.56 | -0.775% |
| S2 | 2.51 | -2.71% |
| S3 | 2.45 | -5.04% |
1051 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2024 | Jul 04, 2024 | Jul 18, 2024 | HK$0.120 | 4.65% |
| 2 | Jun 26, 2023 | Jun 26, 2023 | Jun 26, 2023 | HK$0.120 | 6.35% |
| 3 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | HK$0.120 | 5.08% |
| 4 | Mar 23, 2016 | Jun 14, 2016 | Aug 08, 2016 | HK$0.264 | 3.26% |
| 5 | Mar 04, 2015 | Jun 15, 2015 | Aug 07, 2015 | HK$0.288 | 2.09% |
FAQ
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