G-Resources Group Limited 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
G-Resources Group Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The G-Resources Group Limited stock price fell by -0.769% on the last day (Friday, 28th Jun 2024) from HK$2.60 to HK$2.58. During the last trading day the stock fluctuated 1.96% from a day low at HK$2.55 to a day high of HK$2.60. The price has fallen in 4 of the last 10 days. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 thousand shares were bought and sold for approximately HK$19.18 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.77% during the next 3 months and, with a 90% probability hold a price between HK$2.71 and HK$2.91 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). G-Resources Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0500 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 1.65%.
Our recommended stop-loss: HK$2.49 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (1051.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect G-Resources Group Limited to open at HK$2.58, and during the day (based on 14 day Average True Range), to move between HK$2.53 and HK$2.63, which gives a possible trading interval of +/-HK$0.0540 (+/-2.09%) 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 4.18% 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.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for G-Resources Group Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$2.58 ( 0.129%) | 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 | 2.63 | 1.81% |
| R2 | 2.61 | 1.07% |
| R1 | 2.60 | 0.611% |
| Price | 2.58 | |
| S1 | 2.56 | -0.87% |
| S2 | 2.55 | -1.33% |
| S3 | 2.53 | -2.07% |
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 | 4.71% |
| 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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