Golden Power Group Holdings Limited Stock Forecast

Golden Power Group Holdings Limited stock price up more than 14.81% on Friday
(Updated on May 17, 2024)

3919.HK Signals & Forecast

The Golden Power Group Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.0537 and HK$0.0539. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 29.17%. 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). Golden Power Group Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 6.99% to HK$0.0663 within 24 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for Golden Power Group Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0540 and HK$0.0530. 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, Golden Power Group Holdings Limited finds support just below today's level at HK$0.0540. If this is broken, then the next support from accumulated volume will be at HK$0.0530 and HK$0.0500.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0050 (8.77%) between high and low. For the last week, the stock has had daily average volatility of 5.18%.

Our recommended stop-loss: HK$0.0589 (-4.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (3919.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Golden Power Group Holdings Limited to open at HK$0.0603, and during the day (based on 14 day Average True Range), to move between HK$0.0593 and HK$0.0647, which gives a possible trading interval of +/-HK$0.0027 (+/-4.35%) up or down from last closing price. If Golden Power Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.71% 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$0.0630 (1.61%) than the support at HK$0.0540 (12.90%), 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 Golden Power Group Holdings Limited stock A Buy?

Golden Power Group 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 Golden Power Group Holdings Limited of Monday, May 20, 2024

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