Guangzhou Development Group Incorporated Stock Forecast

Red day on Thursday for Guangzhou Development Group Incorporated stock after losing 0%
(Updated on Jun 20, 2024)

600098.SS Signals & Forecast

There are few to no technical positive signals at the moment. The Guangzhou Development Group Incorporated 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 $6.61 and $6.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -7.67%. 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 during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Guangzhou Development Group Incorporated stock

Guangzhou Development Group Incorporated finds support from accumulated volume at $6.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.110 between high and low, or 1.70%. For the last week the stock has had daily average volatility of 3.04%.

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

Trading Expectations (600098.SS) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Guangzhou Development Group Incorporated to open at $6.52, and during the day (based on 14 day Average True Range), to move between $6.32 and $6.68, which gives a possible trading interval of +/-$0.182 (+/-2.80%) up or down from last closing price. If Guangzhou Development Group Incorporated takes out the full calculated possible swing range there will be an estimated 5.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.41 (1.38%) than the resistance at $6.71 (3.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Guangzhou Development Group Incorporated stock A Buy?

The Guangzhou Development Group Incorporated stock holds several negative signals and despite the positive trend, we believe Guangzhou Development Group Incorporated will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.376 Sell Candidate Unchanged

Predicted Opening Price for Guangzhou Development Group Incorporated of Friday, June 21, 2024

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