Guotai Junan International Holdings Ltd Stock Forecast

Guotai Junan International Holdings Ltd stock downgraded to Hold/Accumulate
(Updated on Jul 04, 2024)

1788.HK Signals & Forecast

The Guotai Junan International Holdings Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.604 and HK$0.608. 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 Friday, May 17, 2024, and so far it has fallen -6.15%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Guotai Junan International Holdings Ltd stock

Guotai Junan International Holdings Ltd finds support from accumulated volume at HK$0.600 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0200 (3.39%) between high and low. For the last week, the stock has had daily average volatility of 3.38%.

Our recommended stop-loss: HK$0.575 (-5.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)

Trading Expectations (1788.HK) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Guotai Junan International Holdings Limited to open at HK$0.603, and during the day (based on 14 day Average True Range), to move between HK$0.584 and HK$0.636, which gives a possible trading interval of +/-HK$0.0258 (+/-4.23%) up or down from last closing price. If Guotai Junan International Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.46% 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$0.620 (1.64%) than the support at HK$0.600 (1.64%), 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 Guotai Junan International Holdings Limited stock A Buy?

Guotai Junan International Holdings 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. 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: -0.419 Hold/Accumulate Downgraded

Predicted Opening Price for Guotai Junan International Holdings Limited of Friday, July 5, 2024

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