Grandshores Technology Group Limited Stock Forecast

Evaluation of Grandshores Technology Group Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)

1647.HK Signals & Forecast

The Grandshores Technology Group 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$0.0724 and HK$0.0714. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 16, 2024, and so far it has fallen -1.33%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Grandshores Technology Group Limited stock

Grandshores Technology Group Limited finds support from accumulated volume at HK$0.0710 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0030 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 7.74%.

Our recommended stop-loss: HK$0.0707 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (1647.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Grandshores Technology Group Limited to open at HK$0.0737, and during the day (based on 14 day Average True Range), to move between HK$0.0683 and HK$0.0797, which gives a possible trading interval of +/-HK$0.0057 (+/-7.73%) up or down from last closing price. If Grandshores Technology Group Limited takes out the full calculated possible swing range there will be an estimated 15.46% 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$0.0710 (4.05%) than the resistance at HK$0.0790 (6.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Grandshores Technology Group Limited stock A Buy?

Grandshores Technology Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: 0.880 Hold/Accumulate Downgraded

Predicted Opening Price for Grandshores Technology Group Limited of Monday, May 20, 2024

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