Grand Baoxin Auto Group Limited Stock Forecast
Grand Baoxin Auto Group Limited stock downgraded to Sell Candidate
(Updated on May 21, 2024)
The Grand Baoxin Auto Group Limited stock price fell by -2.70% on the last day (Tuesday, 21st May 2024) from HK$0.185 to HK$0.180. During the last trading day the stock fluctuated 8.33% from a day low at HK$0.180 to a day high of HK$0.195. The price has fallen in 5 of the last 10 days and is down by -4.26% for this period. Volume has increased on the last day by 5 million 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, 5 million shares were bought and sold for approximately HK$925.83 thousand.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at HK$0.189 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Grand Baoxin Auto Group Limited stock with a 90% probability to be traded between HK$0.128 and HK$0.191 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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1293.HK Signals & Forecast
The Grand Baoxin Auto Group Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.182. On a fall, the stock will find some support from the long-term average at approximately HK$0.167. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, May 06, 2024, and so far it has fallen -4.26%. Further fall is indicated until a new bottom pivot has been found. Grand Baoxin Auto 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 Grand Baoxin Auto Group Limited stock
Grand Baoxin Auto Group Limited finds support from accumulated volume at HK$0.172 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0150 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 5.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1293.HK) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Grand Baoxin Auto Group Limited to open at HK$0.185, and during the day (based on 14 day Average True Range), to move between HK$0.168 and HK$0.192, which gives a possible trading interval of +/-HK$0.0125 (+/-6.92%) up or down from last closing price. If Grand Baoxin Auto Group Limited takes out the full calculated possible swing range there will be an estimated 13.84% 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$0.181 (0.56%) than the support at HK$0.172 (4.44%), 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 Grand Baoxin Auto Group Limited stock A Buy?
Grand Baoxin Auto Group 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. 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 Sell candidate.
Current score: -1.529 Sell Candidate Downgraded
Predicted Opening Price for Grand Baoxin Auto Group Limited of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
HK$0.185 ( 2.78%) | HK$0.180 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1293.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.200 | 11.11 % | |
R2 | 0.194 | 7.93 % | ||
R1 | 0.191 | 5.96 % | ||
Current price: | 0.180 | |||
Support | S1 | 0.179 | -0.406 % | |
S2 | 0.176 | -2.37 % | ||
S3 | 0.170 | -5.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.185 | 2.78 % | |
R2 | 0.183 | 1.67 % | ||
R1 | 0.181 | 0.556 % | ||
Current price | 0.180 | |||
Support | S1 | 0.172 | -4.44% | |
S2 | 0.171 | -5.00% | ||
S3 | 0.170 | -5.56% |
1293 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 19, 2018 | Jun 19, 2018 | Jun 19, 2018 | HK$0.100 | 3.13% |
2 | Jun 12, 2018 | Jun 12, 2018 | Jun 12, 2018 | HK$0.100 | 2.79% |
3 | Mar 31, 2015 | Jul 02, 2015 | Jul 14, 2015 | HK$0.0500 | 1.16% |
4 | Mar 31, 2014 | Jun 27, 2014 | Jul 11, 2014 | HK$0.150 | 2.24% |
5 | Mar 27, 2013 | Jun 27, 2013 | Jul 11, 2013 | HK$0.100 | 2.00% |
FAQ
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