Guangdong Yueyun Transportation Co Ltd Stock Forecast

Red day on Tuesday for Guangdong Yueyun Transportation Co Ltd stock after losing 0.83%
(Updated on May 28, 2024)

3399.HK Signals & Forecast

The Guangdong Yueyun Transportation Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$1.20. On a fall, the stock will find some support from the long-term average at approximately HK$1.13. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, May 22, 2024, and so far it has fallen -3.23%. Further fall is indicated until a new bottom pivot has been found. Guangdong Yueyun Transportation Co Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Guangdong Yueyun Transportation Co Ltd stock

Guangdong Yueyun Transportation Co Ltd finds support from accumulated volume at HK$1.19 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$0.0900 between high and low, or 7.50%. For the last week, the stock has had daily average volatility of 3.17%.

Our recommended stop-loss: HK$1.17 (-2.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (3399.HK) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect Guangdong Yueyun Transportation Company Limited to open at HK$1.23, and during the day (based on 14 day Average True Range), to move between HK$1.15 and HK$1.25, which gives a possible trading interval of +/-HK$0.0455 (+/-3.79%) up or down from last closing price. If Guangdong Yueyun Transportation Company Limited takes out the full calculated possible swing range there will be an estimated 7.58% 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$1.21 (0.83%) than the support at HK$1.19 (0.83%), 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 Guangdong Yueyun Transportation Company Limited stock A Buy?

Guangdong Yueyun Transportation 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 Guangdong Yueyun Transportation Company Limited of Wednesday, May 29, 2024

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