Glory Sun Financial Group Limited Stock Forecast
Is Glory Sun Financial Group Limited stock still a buy after falling -6.58% on Thursday?
(Updated on Jun 13, 2024)
The Glory Sun Financial Group Limited stock price fell by -6.58% on the last day (Thursday, 13th Jun 2024) from HK$0.152 to HK$0.142. During the last trading day the stock fluctuated 7.75% from a day low at HK$0.142 to a day high of HK$0.153. The price has fallen in 7 of the last 10 days and is down by -16.96% for this period. Volume has increased on the last day by 348 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, 1 million shares were bought and sold for approximately HK$176.08 thousand.
Given the current short-term trend, the stock is expected to rise 44.50% during the next 3 months and, with a 90% probability hold a price between HK$0.205 and HK$0.341 at the end of this 3-month period.
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1282.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Glory Sun Financial Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.156 and HK$0.152. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -33.95%. 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). Glory Sun Financial 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".
Support, Risk & Stop-loss for Glory Sun Financial Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.130 and HK$0.115. 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, Glory Sun Financial Group Limited finds support just below today's level at HK$0.130. If this is broken, then the next support from accumulated volume will be at HK$0.115 and HK$0.110.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0110 between high and low, or 7.75%. For the last week, the stock has had daily average volatility of 6.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1282.HK) For The Upcoming Trading Day Of Friday 14th
For the upcoming trading day on Friday, 14th we expect Glory Sun Financial Group Limited to open at HK$0.146, and during the day (based on 14 day Average True Range), to move between HK$0.126 and HK$0.158, which gives a possible trading interval of +/-HK$0.0157 (+/-11.05%) up or down from last closing price. If Glory Sun Financial Group Limited takes out the full calculated possible swing range there will be an estimated 22.10% 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$0.152 (7.04%) than the support at HK$0.130 (8.45%), 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 Glory Sun Financial Group Limited stock A Buy?
The Glory Sun Financial Group Limited stock holds several negative signals and despite the positive trend, we believe Glory Sun Financial Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.927 Strong Sell Candidate Downgraded
Predicted Opening Price for Glory Sun Financial Group Limited of Friday, June 14, 2024
| Fair opening price June 14, 2024 | Current price |
|---|---|
| HK$0.146 ( 2.58%) | HK$0.142 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1282.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.157 | 10.33% |
| R2 | 0.152 | 7.37% |
| R1 | 0.150 | 5.54% |
| Price | 0.142 | |
| S1 | 0.141 | -0.377% |
| S2 | 0.139 | -2.21% |
| S3 | 0.135 | -5.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.159 | 11.97% |
| R2 | 0.157 | 10.56% |
| R1 | 0.152 | 7.04% |
| Price | 0.142 | |
| S1 | 0.130 | -8.45% |
| S2 | 0.115 | -19.01% |
| S3 | 0.110 | -22.54% |
1282 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2019 | Jun 03, 2019 | Jun 26, 2019 | HK$0.0400 | 0.554% |
| 2 | Mar 11, 2018 | May 15, 2018 | Jun 05, 2018 | HK$0.102 | 1.12% |
| 3 | Mar 10, 2017 | May 16, 2017 | Jun 02, 2017 | HK$0.0640 | 0.542% |
| 4 | Mar 11, 2016 | May 05, 2016 | May 31, 2016 | HK$0.0500 | 0.310% |
| 5 | Mar 14, 2014 | May 14, 2014 | Jun 03, 2014 | HK$0.0800 | 1.27% |
FAQ
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