Luoyang Glass Company Limited Stock Forecast
Luoyang Glass Company Limited stock price up 0.755% on Friday
(Updated on Apr 26, 2024)
The Luoyang Glass Company Limited stock price gained 0.755% on the last trading day (Friday, 26th Apr 2024), rising from HK$5.30 to HK$5.34. During the last trading day the stock fluctuated 1.51% from a day low at HK$5.29 to a day high of HK$5.37. The price has risen in 5 of the last 10 days but is still down by -2.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 thousand more shares were traded than the day before. In total, 270 thousand shares were bought and sold for approximately HK$1.44 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$5.29 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 26.20% during the next 3 months and, with a 90% probability hold a price between HK$6.68 and HK$8.27 at the end of this 3-month period.
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1108.HK Signals & Forecast
There are mixed signals in the stock today. The Luoyang Glass Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$5.45. On a fall, the stock will find some support from the short-term average at HK$5.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -8.56%. 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). Luoyang Glass Company 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Luoyang Glass Company Limited stock
Luoyang Glass Company Limited finds support from accumulated volume at HK$5.29 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0800 between high and low, or 1.51%. For the last week, the stock has had daily average volatility of 2.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1108.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Luoyang Glass Company Limited to open at HK$5.33, and during the day (based on 14 day Average True Range), to move between HK$5.17 and HK$5.51, which gives a possible trading interval of +/-HK$0.170 (+/-3.18%) 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 6.37% 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$5.29 (0.94%) than the resistance at HK$5.53 (3.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Luoyang Glass Company Limited stock A Buy?
Luoyang Glass Company 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: -3.581 Sell Candidate Unchanged
Predicted Opening Price for Luoyang Glass Company Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$5.33 ( 0.125%) | HK$5.34 |
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 | 5.41 | 1.37 % | |
| R2 | 5.38 | 0.80 % | ||
| R1 | 5.36 | 0.447 % | ||
| Current price: | 5.34 | |||
| Support | S1 | 5.30 | -0.697 % | |
| S2 | 5.28 | -1.05 % | ||
| S3 | 5.25 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.60 | 4.87 % | |
| R2 | 5.59 | 4.68 % | ||
| R1 | 5.53 | 3.56 % | ||
| Current price | 5.34 | |||
| Support | S1 | 5.29 | -0.94% | |
| S2 | 5.19 | -2.81% | ||
| S3 | 5.14 | -3.75% |
FAQ
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