Bank of Gansu Co., Ltd. Stock Forecast

Bank of Gansu Co., Ltd. stock price down 1.49% on Friday
(Updated on May 10, 2024)

2139.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bank of Gansu Co., Ltd. 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$0.335 and HK$0.364. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bank of Gansu Co., Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Bank of Gansu Co., Ltd. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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$0.0200 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 4.06%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (2139.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Bank of Gansu Co., Ltd. to open at HK$0.330, and during the day (based on 14 day Average True Range), to move between HK$0.308 and HK$0.352, which gives a possible trading interval of +/-HK$0.0220 (+/-6.67%) 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 13.34% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.335, some HK$0.0050 (1.52%) from the current price of HK$0.330, our system finds the risk reward not very attractive.

Is Bank of Gansu Co., Ltd. stock A Buy?

Bank of Gansu Co., Ltd. holds several negative signals and is within a 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.

Current score: -4.077 Sell Candidate Unchanged

Predicted Opening Price for Bank of Gansu Co., Ltd. of Monday, May 13, 2024

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