Global Strategic Group Limited Stock Forecast
Green day on Friday for Global Strategic Group Limited
(Updated on May 17, 2024)
The Global Strategic Group Limited stock price gained 2.78% on the last trading day (Friday, 17th May 2024), rising from HK$0.0720 to HK$0.0740. During the last trading day the stock fluctuated 8.22% from a day low at HK$0.0730 to a day high of HK$0.0790. The price has been going up and down for this period, and there has been a -7.5% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 851 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately HK$87.43 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.13% during the next 3 months and, with a 90% probability hold a price between HK$0.0586 and HK$0.104 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
8007.HK Signals & Forecast
Global Strategic Group 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Global Strategic Group 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$0.0751 and HK$0.0831. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -32.73%. 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).
Support, Risk & Stop-loss for Global Strategic Group Limited stock
Global Strategic Group Limited finds support from accumulated volume at HK$0.0720 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$0.0060 between high and low, or 8.22%. For the last week, the stock has had daily average volatility of 3.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8007.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Global Strategic Group Limited to open at HK$0.0753, and during the day (based on 14 day Average True Range), to move between HK$0.0691 and HK$0.0789, which gives a possible trading interval of +/-HK$0.0049 (+/-6.61%) up or down from last closing price. If Global Strategic Group Limited takes out the full calculated possible swing range there will be an estimated 13.21% 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$0.0720 (2.70%) than the resistance at HK$0.0800 (8.11%), 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 Strategic Group Limited stock A Buy?
Global Strategic Group Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.636 Sell Candidate Unchanged
Predicted Opening Price for Global Strategic Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.0753 ( 1.80%) | HK$0.0740 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8007.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0813 | 9.91 % | |
| R2 | 0.0790 | 6.81 % | ||
| R1 | 0.0776 | 4.90 % | ||
| Current price: | 0.0740 | |||
| Support | S1 | 0.0730 | -1.30 % | |
| S2 | 0.0716 | -3.21 % | ||
| S3 | 0.0693 | -6.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0900 | 21.62 % | |
| R2 | 0.0830 | 12.16 % | ||
| R1 | 0.0800 | 8.11 % | ||
| Current price | 0.0740 | |||
| Support | S1 | 0.0720 | -2.70% | |
| S2 | 0.0710 | -4.05% | ||
| S3 | 0.0690 | -6.76% |
FAQ
Click here for our free guide on how to buy Global Strategic Group Limited Stock.
