China Glass Holdings Limited Stock Forecast

Weaker technical forecast for China Glass Holdings Limited as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)

3300.HK Signals & Forecast

There are few to no technical positive signals at the moment. The China Glass Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.81 and HK$0.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -13.98%. 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 fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for China Glass Holdings Limited stock

China Glass Holdings Limited finds support from accumulated volume at HK$0.790 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0200 between high and low, or 2.50%. For the last week the stock has had daily average volatility of 2.98%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3300.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect China Glass Holdings Limited to open at HK$0.81, and during the day (based on 14 day Average True Range), to move between HK$0.760 and HK$0.84, which gives a possible trading interval of +/-HK$0.0404 (+/-5.05%) up or down from last closing price. If China Glass Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.09% 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$0.81 (1.25%) than the support at HK$0.790 (1.25%), 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 China Glass Holdings Limited stock A Buy?

The China Glass Holdings Limited stock holds several negative signals and despite the positive trend, we believe China Glass Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -3.826 Sell Candidate Downgraded

Predicted Opening Price for China Glass Holdings Limited of Monday, May 6, 2024

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