Great Wall Motor Company Limited Stock Forecast

Great Wall Motor Company Limited stock downgraded to Buy Candidate
(Updated on May 10, 2024)

2333.HK Signals & Forecast

The Great Wall Motor Company Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$12.09 and HK$10.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 20.89%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Great Wall Motor Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$11.82 and HK$11.70. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Great Wall Motor Company Limited finds support just below today's level at HK$11.82. If this is broken, then the next support from accumulated volume will be at HK$11.70 and HK$11.52.

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$0.480 between high and low, or 3.93%. For the last week, the stock has had daily average volatility of 4.55%.

Our recommended stop-loss: HK$12.11 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (2333.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Great Wall Motor Company Limited to open at HK$12.46, and during the day (based on 14 day Average True Range), to move between HK$11.96 and HK$13.04, which gives a possible trading interval of +/-HK$0.538 (+/-4.31%) up or down from last closing price. If Great Wall Motor Company Limited takes out the full calculated possible swing range there will be an estimated 8.61% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$11.82, some HK$0.680 (5.44%) from the current price of HK$12.50, our system finds the risk reward attractive.

Is Great Wall Motor Company Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Great Wall Motor Company Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.462 Buy Candidate Downgraded

Predicted Opening Price for Great Wall Motor Company Limited of Monday, May 13, 2024

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