Gushengtang Holdings Limited Stock Forecast
Red day on Thursday for Gushengtang Holdings Limited
(Updated on Jun 20, 2024)
The Gushengtang Holdings Limited stock price fell by -2.85% on the last day (Thursday, 20th Jun 2024) from HK$40.40 to HK$39.25. During the last trading day the stock fluctuated 4.36% from a day low at HK$39.00 to a day high of HK$40.70. The price has fallen in 7 of the last 10 days and is down by -9.25% for this period. Volume has increased on the last day by 436 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 856 thousand shares were bought and sold for approximately HK$33.59 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$38.14 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.95% during the next 3 months and, with a 90% probability hold a price between HK$36.25 and HK$44.40 at the end of this 3-month period.
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2273.HK Signals & Forecast
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. The Gushengtang 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$41.13 and HK$43.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -18.14%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Gushengtang Holdings Limited 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 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$1.70 (4.36%) between high and low. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2273.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Gushengtang Holdings Limited to open at HK$39.65, and during the day (based on 14 day Average True Range), to move between HK$37.70 and HK$40.80, which gives a possible trading interval of +/-HK$1.55 (+/-3.94%) up or down from last closing price. If Gushengtang Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.88% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$43.60, some HK$4.35 (11.08%) from the current price of HK$39.25, our system finds the risk reward not very attractive.
Is Gushengtang Holdings Limited stock A Buy?
Gushengtang Holdings Limited 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: -2.590 Sell Candidate Unchanged
Predicted Opening Price for Gushengtang Holdings Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$39.65 ( 1.02%) | HK$39.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2273.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.35 | 5.35% |
| R2 | 40.70 | 3.70% |
| R1 | 40.30 | 2.67% |
| Price | 39.25 | |
| S1 | 39.00 | -0.635% |
| S2 | 38.60 | -1.66% |
| S3 | 37.95 | -3.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.40 | 15.67% |
| R2 | 44.85 | 14.27% |
| R1 | 43.60 | 11.08% |
| Price | 39.25 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
2273 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 19, 2023 | Oct 19, 2023 | Nov 10, 2023 | HK$0.410 | 0.88% |
FAQ
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