Goal Forward Holdings Limited Stock Forecast
Stronger technical forecast for Goal Forward Holdings Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Goal Forward Holdings Limited stock price gained 4.55% on the last trading day (Friday, 17th May 2024), rising from HK$0.88 to HK$0.92. During the last trading day the stock fluctuated 6.74% from a day low at HK$0.89 to a day high of HK$0.95. The price has fallen in 7 of the last 10 days and is down by -17.86% for this period. Volume fell on the last day by -6 million shares and in total, 2 million shares were bought and sold for approximately HK$1.96 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -34.75% during the next 3 months and, with a 90% probability hold a price between HK$0.502 and HK$0.670 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1854.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 4.55%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Goal Forward Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.96 and HK$1.11. A break-up above any of these levels will issue buy signals.
A buy signal from a double bottom formation was found on Thursday, May 16, 2024 and based on theory for this formation the price should go up by 14.62% to HK$1.05 within 11 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Goal Forward Holdings Limited stock
Goal Forward Holdings Limited finds support from accumulated volume at HK$0.88 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$0.0600 between high and low, or 6.74%. For the last week, the stock has had daily average volatility of 6.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1854.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Goal Forward Holdings Limited to open at HK$0.92, and during the day (based on 14 day Average True Range), to move between HK$0.84 and HK$1.00, which gives a possible trading interval of +/-HK$0.0800 (+/-8.70%) up or down from last closing price. If Goal Forward Holdings Limited takes out the full calculated possible swing range there will be an estimated 17.40% 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$0.88 (4.35%) than the resistance at HK$1.00 (8.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Goal Forward Holdings Limited stock A Buy?
Goal Forward Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.922 Sell Candidate Upgraded
Predicted Opening Price for Goal Forward Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.92 ( 0.00000000%) | HK$0.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1854.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.98 | 6.52 % | |
| R2 | 0.96 | 4.03 % | ||
| R1 | 0.94 | 2.49 % | ||
| Current price: | 0.92 | |||
| Support | S1 | 0.90 | -2.49 % | |
| S2 | 0.88 | -4.03 % | ||
| S3 | 0.86 | -6.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.12 | 21.74 % | |
| R2 | 1.02 | 10.87 % | ||
| R1 | 1.00 | 8.70 % | ||
| Current price | 0.92 | |||
| Support | S1 | 0.88 | -4.35% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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