Good Fellow Healthcare Holdings Limited Stock Forecast

Red day on Monday for Good Fellow Healthcare Holdings Limited
(Updated on May 20, 2024)

8143.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 35.45%. 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 Good Fellow Healthcare Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.196. On a fall, the stock will find some support from the short-term average at HK$0.137. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Good Fellow Healthcare Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.139 and HK$0.126. 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, Good Fellow Healthcare Holdings Limited finds support just below today's level at HK$0.139. If this is broken, then the next support from accumulated volume will be at HK$0.126 and HK$0.113.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0010 between high and low, or 0.676%. For the last week the stock has had daily average volatility of 1.31%.

The Good Fellow Healthcare Holdings Limited stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.

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

Trading Expectations (8143.HK) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Good Fellow Healthcare Holdings Limited to open at HK$0.149, and during the day (based on 14 day Average True Range), to move between HK$0.136 and HK$0.162, which gives a possible trading interval of +/-HK$0.0134 (+/-8.98%) up or down from last closing price. If Good Fellow Healthcare Holdings Limited takes out the full calculated possible swing range there will be an estimated 17.96% 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$0.139 (6.71%) than the resistance at HK$0.176 (18.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Good Fellow Healthcare Holdings Limited stock A Buy?

Good Fellow Healthcare Holdings Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.867 Sell Candidate Unchanged

Predicted Opening Price for Good Fellow Healthcare Holdings Limited of Tuesday, May 21, 2024

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