Global Sweeteners Holdings Limited Stock Forecast

Big movements in Global Sweeteners Holdings Limited stock price on Friday moving 14.46% between high and low
(Updated on May 17, 2024)

3889.HK Signals & Forecast

The Global Sweeteners Holdings Limited 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 HK$0.0830 and HK$0.0797. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 30.99%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

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

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0850 and HK$0.0810. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Global Sweeteners Holdings Limited finds support just below today's level at HK$0.0850. If this is broken, then the next support from accumulated volume will be at HK$0.0810 and HK$0.0800.

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$0.0120 between high and low, or 14.46%. For the last week the stock has had daily average volatility of 6.95%.

Our recommended stop-loss: HK$0.0901 (-3.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (3889.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Global Sweeteners Holdings Limited to open at HK$0.0903, and during the day (based on 14 day Average True Range), to move between HK$0.0884 and HK$0.0976, which gives a possible trading interval of +/-HK$0.0046 (+/-4.94%) 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 9.89% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.0850, some HK$0.0080 (8.60%) from the current price of HK$0.0930, our system finds the risk reward attractive.

Is Global Sweeteners Holdings Limited stock A Buy?

Global Sweeteners Holdings Limited 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 Global Sweeteners Holdings Limited of Monday, May 20, 2024

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