Guotai Junan Securities Co., Ltd. Stock Forecast
Stronger technical forecast for Guotai Junan Securities Co., Ltd. stock price after Friday trading.
(Updated on May 17, 2024)
The Guotai Junan Securities Co., Ltd. stock price gained 2.48% on the last trading day (Friday, 17th May 2024), rising from HK$8.88 to HK$9.10. During the last trading day the stock fluctuated 2.71% from a day low at HK$8.86 to a day high of HK$9.10. The price has risen in 6 of the last 10 days and is up by 9.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately HK$45.23 million.
Given the current short-term trend, the stock is expected to fall -8.60% during the next 3 months and, with a 90% probability hold a price between HK$6.69 and HK$8.32 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.
2611.HK Signals & Forecast
Mostly positive signals in the chart today. The Guotai Junan Securities Co., Ltd. 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$8.79 and HK$8.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 18.95%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Guotai Junan Securities Co., Ltd. stock
Guotai Junan Securities Co., Ltd. finds support from accumulated volume at HK$8.94 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$0.240 between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 3.22%.
The Guotai Junan Securities Co., Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$8.71 (-4.32%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (2611.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Guotai Junan Securities Co., Ltd. to open at HK$9.02, and during the day (based on 14 day Average True Range), to move between HK$8.88 and HK$9.32, which gives a possible trading interval of +/-HK$0.223 (+/-2.45%) up or down from last closing price. If Guotai Junan Securities Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.90% 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$9.12 (0.22%) than the support at HK$8.94 (1.76%), 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 Guotai Junan Securities Co., Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.677 Buy Candidate Upgraded
Predicted Opening Price for Guotai Junan Securities Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$9.02 ( 0.88%) | HK$9.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2611.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.26 | 1.76 % | |
| R2 | 9.17 | 0.751 % | ||
| R1 | 9.11 | 0.128 % | ||
| Current price: | 9.10 | |||
| Support | S1 | 8.93 | -1.89 % | |
| S2 | 8.87 | -2.51 % | ||
| S3 | 8.78 | -3.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.32 | 2.42 % | |
| R2 | 9.20 | 1.10 % | ||
| R1 | 9.12 | 0.220 % | ||
| Current price | 9.10 | |||
| Support | S1 | 8.94 | -1.76% | |
| S2 | 8.88 | -2.42% | ||
| S3 | 8.40 | -7.69% |
2611 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | HK$0.589 | 6.42% |
| 2 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | HK$0.798 | 8.25% |
| 3 | Jul 12, 2021 | Jul 12, 2021 | Jul 12, 2021 | HK$0.672 | 6.64% |
| 4 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | HK$0.427 | 4.05% |
| 5 | Jul 08, 2019 | Jul 08, 2019 | Jul 08, 2019 | HK$0.313 | 2.35% |
FAQ
Click here for our free guide on how to buy Guotai Junan Securities Co., Ltd. Stock.
