VALUE GOLD ETF/UT HKD Stock Forecast

VALUE GOLD ETF/UT HKD stock price up 0.325% on Thursday
(Updated on Jun 20, 2024)

3081.HK Signals & Forecast

There are mixed signals in the stock today. The VALUE GOLD ETF/UT HKD stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$55.62. On a fall, the stock will find some support from the short-term average at HK$55.15. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -3.91%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Wednesday, July 12, 2023 in the long-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 VALUE GOLD ETF/UT HKD stock

VALUE GOLD ETF/UT HKD finds support from accumulated volume at HK$54.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.220 between high and low, or 0.397%. For the last week the stock has had daily average volatility of 0.450%.

Our recommended stop-loss: HK$52.85 (-4.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 32 days ago.)

Trading Expectations (3081.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect VALUE GOLD ETF/UT HKD to open at HK$55.53, and during the day (based on 14 day Average True Range), to move between HK$55.04 and HK$56.12, which gives a possible trading interval of +/-HK$0.545 (+/-0.98%) up or down from last closing price. If VALUE GOLD ETF/UT HKD takes out the full calculated possible swing range there will be an estimated 1.96% 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$55.90 (0.58%) than the support at HK$54.94 (1.15%), 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 VALUE GOLD ETF/UT HKD stock A Buy?

VALUE GOLD ETF/UT HKD 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: 0.506 Hold/Accumulate Unchanged

Predicted Opening Price for VALUE GOLD ETF/UT HKD of Friday, June 21, 2024

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