Global Sweeteners Holdings Limited Stock Forecast

Global Sweeteners Holdings Limited stock price ended at HK$0.0770 on Friday, after losing 3.75%.
(Updated on May 03, 2024)

3889.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 2.67%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Global Sweeteners Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0781 and HK$0.0793. A break-up above any of these levels will issue buy signals. Global Sweeteners Holdings Limited 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Global Sweeteners Holdings Limited stock

Global Sweeteners Holdings Limited finds support from accumulated volume at HK$0.0750 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$0.0010 between high and low, or 1.32%. For the last week, the stock has had daily average volatility of 3.73%.

Our recommended stop-loss: HK$0.0735 (-4.59%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (3889.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Global Sweeteners Holdings Limited to open at HK$0.0767, and during the day (based on 14 day Average True Range), to move between HK$0.0732 and HK$0.0808, which gives a possible trading interval of +/-HK$0.0038 (+/-4.91%) up or down from last closing price. If Global Sweeteners Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.0750 (2.60%) than the resistance at HK$0.0800 (3.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Global Sweeteners Holdings Limited stock A Buy?

Global Sweeteners Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Global Sweeteners Holdings Limited of Monday, May 6, 2024

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