Golden Ponder Holdings Limited Stock Forecast

Golden Ponder Holdings Limited stock downgraded to Hold/Accumulate
(Updated on May 10, 2024)

1783.HK Signals & Forecast

The Golden Ponder Holdings 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$4.29 and HK$3.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 41.02%. 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 Golden Ponder Holdings Limited stock

Golden Ponder Holdings Limited finds support from accumulated volume at HK$4.60 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$0.120 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 5.68%.

The Golden Ponder Holdings Limited stock is extremely overbought on RSI14 (99). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: HK$4.59 (-2.52%) (This stock has high daily movements and this gives high risk. The RSI14 is 99 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (1783.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Golden Ponder Holdings Limited to open at HK$4.68, and during the day (based on 14 day Average True Range), to move between HK$4.54 and HK$4.88, which gives a possible trading interval of +/-HK$0.170 (+/-3.61%) up or down from last closing price. If Golden Ponder Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.22% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$4.60, some HK$0.110 (2.34%) from the current price of HK$4.71, our system finds the risk reward attractive.

Is Golden Ponder Holdings Limited stock A Buy?

Golden Ponder Holdings 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: 0.000 Hold/Accumulate Downgraded

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 Golden Ponder Holdings Limited of Monday, May 13, 2024

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