GME Group Holdings Limited Stock Forecast
On Friday, GME Group Holdings Limited stock price gained an impressive 7.05%
(Updated on May 17, 2024)
The GME Group Holdings Limited stock price gained 7.05% on the last trading day (Friday, 17th May 2024), rising from HK$0.227 to HK$0.243. During the last trading day the stock fluctuated 7.33% from a day low at HK$0.232 to a day high of HK$0.249. The price has been going up and down for this period, and there has been a 3.4% gain 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, 116 thousand more shares were traded than the day before. In total, 504 thousand shares were bought and sold for approximately HK$122.47 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.229 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 84.92% during the next 3 months and, with a 90% probability hold a price between HK$0.424 and HK$0.591 at the end of this 3-month period.
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8188.HK Signals & Forecast
The GME Group 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$0.238 and HK$0.236. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). GME 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.71%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for GME Group Holdings Limited stock
GME Group Holdings Limited finds support from accumulated volume at HK$0.235 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$0.0170 between high and low, or 7.33%. For the last week, the stock has had daily average volatility of 3.69%.
Our recommended stop-loss: HK$0.233 (-4.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (8188.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect GME Group Holdings Limited to open at HK$0.241, and during the day (based on 14 day Average True Range), to move between HK$0.230 and HK$0.256, which gives a possible trading interval of +/-HK$0.0127 (+/-5.24%) up or down from last closing price. If GME Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.48% 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$0.246 (1.23%) than the support at HK$0.235 (3.29%), 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.
Earnings coming up
GME Group Holdings Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for GME Group Holdings Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.62% in the first trading day after earnings release.
Is GME Group Holdings Limited stock A Buy?
GME Group Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.175 Strong Buy Candidate Upgraded
Predicted Opening Price for GME Group Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.241 ( 0.686%) | HK$0.243 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8188.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.258 | 6.31 % | |
| R2 | 0.252 | 3.64 % | ||
| R1 | 0.248 | 1.99 % | ||
| Current price: | 0.243 | |||
| Support | S1 | 0.235 | -3.36 % | |
| S2 | 0.231 | -5.01 % | ||
| S3 | 0.224 | -7.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.255 | 4.94 % | |
| R2 | 0.248 | 2.06 % | ||
| R1 | 0.246 | 1.23 % | ||
| Current price | 0.243 | |||
| Support | S1 | 0.235 | -3.29% | |
| S2 | 0.232 | -4.53% | ||
| S3 | 0.218 | -10.29% |
8188 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | Jun 20, 2024 | HK$0.0500 | 20.83% |
| 2 | Mar 23, 2018 | May 07, 2018 | May 21, 2018 | HK$0.0080 | 3.48% |
FAQ
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