Global International Credit Group Ltd Stock Forecast

Stronger technical forecast for Global International Credit Group Ltd stock price after Thursday trading.
(Updated on Jun 20, 2024)

1669.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 5.88%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Global International Credit Group Ltd 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$0.569. On a fall, the stock will find some support from the short-term average at HK$0.531. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Global International Credit Group Ltd stock

Global International Credit Group Ltd finds support from accumulated volume at HK$0.530 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.770%.

Our recommended stop-loss: HK$0.513 (-5.09%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (1669.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Global International Credit Group Limited to open at HK$0.540, and during the day (based on 14 day Average True Range), to move between HK$0.527 and HK$0.553, which gives a possible trading interval of +/-HK$0.0131 (+/-2.43%) up or down from last closing price. If Global International Credit Group Limited takes out the full calculated possible swing range there will be an estimated 4.86% 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$0.530 (1.85%) than the resistance at HK$0.570 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Global International Credit Group Limited stock A Buy?

Global International Credit Group Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Global International Credit Group Limited of Friday, June 21, 2024

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