Bank of Gansu Co., Ltd. Stock Forecast
Bank of Gansu Co., Ltd. stock price up 1.52% on Tuesday
(Updated on Jul 02, 2024)
The Bank of Gansu Co., Ltd. stock price gained 1.52% on the last trading day (Tuesday, 2nd Jul 2024), rising from HK$0.330 to HK$0.335. During the last trading day the stock fluctuated 6.35% from a day low at HK$0.315 to a day high of HK$0.335. The price has been going up and down for this period, and there has been a 4.69% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 599 thousand more shares were traded than the day before. In total, 599 thousand shares were bought and sold for approximately HK$200.67 thousand.
The stock lies in the middle of a 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 -13.54% during the next 3 months and, with a 90% probability hold a price between HK$0.257 and HK$0.314 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
2139.HK Signals & Forecast
The Bank of Gansu Co., 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$0.327 and HK$0.328. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 8.06%. 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). Bank of Gansu Co., Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Bank of Gansu Co., Ltd. stock
Bank of Gansu Co., Ltd. finds support from accumulated volume at HK$0.330 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0200 between high and low, or 6.35%. For the last week the stock has had daily average volatility of 4.15%.
Our recommended stop-loss: HK$0.322 (-3.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (2139.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Bank of Gansu Co., Ltd. to open at HK$0.328, and during the day (based on 14 day Average True Range), to move between HK$0.321 and HK$0.349, which gives a possible trading interval of +/-HK$0.0136 (+/-4.07%) up or down from last closing price. If Bank of Gansu Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.13% 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$0.340 (1.49%) than the support at HK$0.330 (1.49%), 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 Bank of Gansu Co., Ltd. stock A Buy?
Bank of Gansu Co., 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Bank of Gansu Co., Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.328 ( 1.99%) | HK$0.335 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2139.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.348 | 3.98% |
| R2 | 0.341 | 1.70% |
| R1 | 0.336 | 0.291% |
| Price | 0.335 | |
| S1 | 0.321 | -4.27% |
| S2 | 0.316 | -5.68% |
| S3 | 0.308 | -7.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.370 | 10.45% |
| R2 | 0.355 | 5.97% |
| R1 | 0.340 | 1.49% |
| Price | 0.335 | |
| S1 | 0.330 | -1.49% |
| S2 | 0.325 | -2.99% |
| S3 | 0.320 | -4.48% |
2139 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2019 | Jun 05, 2019 | Aug 02, 2019 | HK$0.116 | 6.29% |
FAQ
Click here for our free guide on how to buy Bank of Gansu Co., Ltd. Stock.
