Genscript Biotech Corporation Stock Forecast

Strong day for Genscript Biotech Corporation stock price on Thursday rising 6.01% to HK$12.34
(Updated on May 02, 2024)

1548.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 18.20%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Genscript Biotech Corporation 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$13.52. On a fall, the stock will find some support from the short-term average at HK$11.33. 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.

Support, Risk & Stop-loss for Genscript Biotech Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$11.64 and HK$11.02. 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, Genscript Biotech Corporation finds support just below today's level at HK$11.64. If this is broken, then the next support from accumulated volume will be at HK$11.02 and HK$10.44.

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$1.02 between high and low, or 8.98%. For the last week, the stock has had daily average volatility of 6.86%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1548.HK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Genscript Biotech Corporation to open at HK$12.03, and during the day (based on 14 day Average True Range), to move between HK$11.58 and HK$13.10, which gives a possible trading interval of +/-HK$0.764 (+/-6.19%) up or down from last closing price. If Genscript Biotech Corporation takes out the full calculated possible swing range there will be an estimated 12.37% 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$12.62 (2.27%) than the support at HK$11.64 (5.67%), 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 Genscript Biotech Corporation stock A Buy?

Genscript Biotech Corporation 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: -1.893 Sell Candidate Unchanged

Predicted Opening Price for Genscript Biotech Corporation of Friday, May 3, 2024

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