Ganfeng Lithium Co., Ltd. Stock Forecast
Ganfeng Lithium Co., Ltd. stock price up 0.186% on Friday
(Updated on May 10, 2024)
The Ganfeng Lithium Co., Ltd. stock price gained 0.186% on the last trading day (Friday, 10th May 2024), rising from HK$26.85 to HK$26.90. During the last trading day the stock fluctuated 6.14% from a day low at HK$26.05 to a day high of HK$27.65. The price has risen in 7 of the last 10 days and is up by 23.68% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 5 million shares were bought and sold for approximately HK$139.89 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.67% during the next 3 months and, with a 90% probability hold a price between HK$22.50 and HK$30.21 at the end of this 3-month period.
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1772.HK Signals & Forecast
Mostly positive signals in the chart today. The Ganfeng Lithium Co., Ltd. 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$25.76 and HK$24.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 26.59%. 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.
Support, Risk & Stop-loss for Ganfeng Lithium Co., Ltd. stock
Ganfeng Lithium Co., Ltd. finds support from accumulated volume at HK$26.00 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$1.60 between high and low, or 6.14%. For the last week, the stock has had daily average volatility of 5.09%.
Our recommended stop-loss: HK$26.09 (-3.00%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (1772.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Ganfeng Lithium Co., Ltd. to open at HK$26.87, and during the day (based on 14 day Average True Range), to move between HK$25.55 and HK$28.25, which gives a possible trading interval of +/-HK$1.35 (+/-5.02%) up or down from last closing price. If Ganfeng Lithium Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.03% 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$27.35 (1.67%) than the support at HK$26.00 (3.35%), 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 Ganfeng Lithium Co., Ltd. stock A Buy?
Ganfeng Lithium Co., Ltd. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.642 Strong Buy Candidate Unchanged
Predicted Opening Price for Ganfeng Lithium Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$26.87 ( 0.124%) | HK$26.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1772.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.47 | 5.82 % | |
| R2 | 27.86 | 3.55 % | ||
| R1 | 27.48 | 2.15 % | ||
| Current price: | 26.90 | |||
| Support | S1 | 26.26 | -2.40 % | |
| S2 | 25.88 | -3.80 % | ||
| S3 | 25.27 | -6.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.00 | 4.09 % | |
| R2 | 27.50 | 2.23 % | ||
| R1 | 27.35 | 1.67 % | ||
| Current price | 26.90 | |||
| Support | S1 | 26.00 | -3.35% | |
| S2 | 23.20 | -13.75% | ||
| S3 | 21.25 | -21.00% |
1772 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | HK$1.09 | 2.10% |
| 2 | Jun 17, 2022 | Jun 17, 2022 | Aug 04, 2022 | HK$0.351 | 0.492% |
| 3 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | HK$0.300 | 0.383% |
| 4 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | HK$0.261 | 0.334% |
| 5 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | HK$0.234 | 0.93% |
FAQ
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