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AI Analysis of 1108.HK
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Luoyang Glass Company Limited stock price ended at HK$5.53 on Thursday, after gaining 1.28%.
(Updated on Mar 28, 2024)

Buy candidate since Mar 25, 2024 Gain 2.60% PDF

The Luoyang Glass Company Limited stock price gained 1.28% on the last trading day (Thursday, 28th Mar 2024), rising from HK$5.46 to HK$5.53. During the last trading day the stock fluctuated 2.56% from a day low at HK$5.46 to a day high of HK$5.60. The price has fallen in 5 of the last 10 days and is down by -1.78% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 532 thousand shares were bought and sold for approximately HK$2.94 million.

The stock lies in the middle of a wide and strong 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 36.31% during the next 3 months and, with a 90% probability hold a price between HK$6.81 and HK$8.44 at the end of this 3-month period.

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1108.HK Signals & Forecast

The Luoyang Glass Company Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$5.47 and HK$5.13. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -5.31%. 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).

Support, Risk & Stop-loss for Luoyang Glass Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$4.52 and HK$4.36. 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, Luoyang Glass Company Limited finds support just below today's level at HK$4.52. If this is broken, then the next support from accumulated volume will be at HK$4.36 and HK$4.33.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.140 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 3.45%.

Our recommended stop-loss: HK$5.26 (-4.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (1108.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Luoyang Glass Company Limited to open at HK$5.53, and during the day (based on 14 day Average True Range), to move between HK$5.31 and HK$5.75, which gives a possible trading interval of +/-HK$0.219 (+/-3.97%) up or down from last closing price. If Luoyang Glass Company Limited takes out the full calculated possible swing range there will be an estimated 7.93% 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$5.60 (1.27%) than the support at HK$4.52 (18.26%), 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 Luoyang Glass Company Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Luoyang Glass Company Limited stock to perform well in the short-term.

Current score: 2.553 Buy Candidate Unchanged

Predicted Opening Price for Luoyang Glass Company Limited of Tuesday, April 2, 2024

Fair opening price April 2, 2024 Current price
HK$5.53 ( 0%) HK$5.53

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

Trading levels for 1108.HK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 5.67 2.53 %
R2 5.62 1.56 %
R1 5.58 0.97 %
Current price: 5.53
Support S1 5.48 -0.97 %
S2 5.44 -1.56 %
S3 5.39 -2.53 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 5.84 5.61 %
R2 5.73 3.62 %
R1 5.60 1.27 %
Current price 5.53
Support S1 4.52 -18.26%
S2 4.36 -21.16%
S3 4.33 -21.70%

FAQ

What is the symbol for Luoyang Glass Company Limited Stock and on which exchange is it traded?
The symbol for Luoyang Glass Company Limited is 1108.HK and it is traded on the HKEX (Hong Kong Stock Exchange).

Should I buy or sell Luoyang Glass Company Limited Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Luoyang Glass Company Limited stock to perform well in the short-term.

How to buy Luoyang Glass Company Limited Stock?
Luoyang Glass Company Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Luoyang Glass Company Limited Stock.

What's the current price of Luoyang Glass Company Limited Stock?
As of the end of day on the 2024-03-28, the price of an Luoyang Glass Company Limited (1108.HK) share was HK$5.53.

What is the 52-week high and low for Luoyang Glass Company Limited Stock?
The 52-week high for Luoyang Glass Company Limited Stock is HK$8.44 and the 52-week low is HK$3.58.

What is the market capitalization of Luoyang Glass Company Limited Stock?
As of the 2024-03-28, the market capitalization of Luoyang Glass Company Limited is 6.641B.
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About Luoyang Glass Company Limited

Luoyang Glass Company Limited, together with its subsidiaries, engages in the manufacture and sale of float glass in China and internationally. The company operates through two segments, Information Display Glass and New Energy Glass. The Information Display Glass segment offers ultra-thin electronic glass substrates. The New Energy Glass segment produces photovoltaic original glass and its further processed products, such as glass for ultra-whit... 1108.HK Profile

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