China Gold International Resources Corp. Stock Forecast

China Gold International Resources Corp. stock price ended at HK$48.00 on Monday, after losing 1.44%.
(Updated on Apr 22, 2024)

2099.HK Signals & Forecast

A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -7.43%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The China Gold International Resources Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$48.63. On a fall, the stock will find some support from the long-term average at approximately HK$46.51. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.

Support, Risk & Stop-loss for China Gold International Resources Corp. stock

China Gold International Resources Corp. finds support from accumulated volume at HK$47.70 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$3.15 between high and low, or 6.73%. For the last week, the stock has had daily average volatility of 5.38%.

Our recommended stop-loss: HK$45.82 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (2099.HK) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect China Gold International Resources Corp. Ltd. to open at HK$48.25, and during the day (based on 14 day Average True Range), to move between HK$45.44 and HK$50.56, which gives a possible trading interval of +/-HK$2.56 (+/-5.33%) up or down from last closing price. If China Gold International Resources Corp. Ltd. takes out the full calculated possible swing range there will be an estimated 10.66% 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$47.70 (0.62%) than the resistance at HK$48.95 (1.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Gold International Resources Corp. Ltd. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.280 Buy Candidate Unchanged

Predicted Opening Price for China Gold International Resources Corp. Ltd. of Tuesday, April 23, 2024

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