Genes Tech Group Holdings Co Ltd Stock Forecast

Evaluation of Genes Tech Group Holdings Co Ltd stock downgraded after the last trading session.
(Updated on May 17, 2024)

8257.HK Signals & Forecast

There are mixed signals in the stock today. The Genes Tech Group Holdings Co Ltd 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$0.0575. On a fall, the stock will find some support from the short-term average at HK$0.0526. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen 0%. 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 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 Genes Tech Group Holdings Co Ltd stock

Genes Tech Group Holdings Co Ltd finds support from accumulated volume at HK$0.0530 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.11%

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

Trading Expectations (8257.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Genes Tech Group Holdings Company Limited to open at HK$0.0540, and during the day (based on 14 day Average True Range), to move between HK$0.0518 and HK$0.0562, which gives a possible trading interval of +/-HK$0.0022 (+/-4.03%) up or down from last closing price. If Genes Tech Group Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 8.05% 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$0.0530 (1.85%) than the resistance at HK$0.0560 (3.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Genes Tech Group Holdings Company Limited stock A Buy?

Genes Tech Group Holdings Co Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.103 Sell Candidate Downgraded

Predicted Opening Price for Genes Tech Group Holdings Company Limited of Monday, May 20, 2024

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