Greentown Service Group Co. Ltd. Stock Forecast
Greentown Service Group Co. Ltd. stock price ended at HK$4.80 on Friday, after gaining 2.35%.
(Updated on May 17, 2024)
The Greentown Service Group Co. Ltd. stock price gained 2.35% on the last trading day (Friday, 17th May 2024), rising from HK$4.69 to HK$4.80. During the last trading day the stock fluctuated 6.87% from a day low at HK$4.66 to a day high of HK$4.98. The price has risen in 7 of the last 10 days and is up by 30.43% over the past 2 weeks. Volume fell on the last day by -22 million shares and in total, 23 million shares were bought and sold for approximately HK$112.16 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$4.31, a level that may pose a second chance to hit a runner. According to fan-theory HK$5.14 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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2869.HK Signals & Forecast
The Greentown Service Group 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$4.26 and HK$3.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 66.09%. 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 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.
Support, Risk & Stop-loss for Greentown Service Group Co. Ltd. stock
Greentown Service Group Co. Ltd. finds support from accumulated volume at HK$4.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.320 between high and low, or 6.87%. For the last week, the stock has had daily average volatility of 8.72%.
The Greentown Service Group Co. Ltd. stock is extremely overbought on RSI14 (87). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: HK$4.67 (-2.76%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (2869.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Greentown Service Group Co. Ltd. to open at HK$4.81, and during the day (based on 14 day Average True Range), to move between HK$4.55 and HK$5.05, which gives a possible trading interval of +/-HK$0.247 (+/-5.14%) up or down from last closing price. If Greentown Service Group Co. Ltd. takes out the full calculated possible swing range there will be an estimated 10.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$4.69, some HK$0.110 (2.29%) from the current price of HK$4.80, our system finds the risk reward attractive.
Is Greentown Service Group Co. Ltd. stock A Buy?
Greentown Service Group 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 Greentown Service Group Co. Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$4.81 ( 0.278%) | HK$4.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2869.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.13 | 6.94 % | |
| R2 | 5.01 | 4.40 % | ||
| R1 | 4.94 | 2.82 % | ||
| Current price: | 4.80 | |||
| Support | S1 | 4.69 | -2.27 % | |
| S2 | 4.62 | -3.84 % | ||
| S3 | 4.49 | -6.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.80 | |||
| Support | S1 | 4.69 | -2.29% | |
| S2 | 4.09 | -14.79% | ||
| S3 | 4.04 | -15.83% |
2869 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 25, 2024 | Jun 25, 2024 | Jul 11, 2024 | HK$0.150 | 3.13% |
| 2 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | HK$0.100 | 2.56% |
| 3 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | HK$0.0400 | 0.474% |
| 4 | Jun 22, 2021 | Jun 22, 2021 | Jun 22, 2021 | HK$0.0800 | 0.686% |
| 5 | Mar 31, 2020 | Jun 24, 2020 | Jul 15, 2020 | HK$0.0750 | 0.761% |
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