Golden Horse Technology Entrtnt Corp Ltd Stock Forecast

Green day on Friday for Golden Horse Technology Entrtnt Corp Ltd stock after gaining 4.24%
(Updated on May 17, 2024)

300756.SZ Signals & Forecast

The Golden Horse Technology Entrtnt Corp 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 ¥13.77 and ¥13.56. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -5.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, May 15, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Golden Horse Technology Entrtnt Corp Ltd stock

Golden Horse Technology Entrtnt Corp Ltd finds support from accumulated volume at ¥14.07 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 ¥1.05 between high and low, or 7.81%. For the last week, the stock has had daily average volatility of 5.77%.

Our recommended stop-loss: ¥13.83 (-4.60%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (300756.SZ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Golden Horse Technology Entrtnt Corp Ltd to open at ¥14.15, and during the day (based on 14 day Average True Range), to move between ¥13.33 and ¥15.67, which gives a possible trading interval of +/-¥1.17 (+/-8.09%) up or down from last closing price. If Golden Horse Technology Entrtnt Corp Ltd takes out the full calculated possible swing range there will be an estimated 16.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥14.79 (2.00%) than the support at ¥14.07 (2.97%), 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 Golden Horse Technology Entrtnt Corp Ltd 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 Golden Horse Technology Entrtnt Corp Ltd stock to perform well in the short-term.

Current score: 4.655 Buy Candidate Unchanged

Predicted Opening Price for Golden Horse Technology Entrtnt Corp Ltd of Monday, May 20, 2024

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