Grand Brilliance Group Holdings Limited Stock Forecast

Red day on Tuesday for Grand Brilliance Group Holdings Limited stock after losing 3.81%
(Updated on Jul 02, 2024)

8372.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Grand Brilliance Group Holdings 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$0.105 and HK$0.108. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -12.17%. 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). Grand Brilliance Group Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Grand Brilliance Group Holdings Limited stock

Grand Brilliance Group Holdings Limited finds support from accumulated volume at HK$0.100 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$0.0040 between high and low, or 3.96%. For the last week, the stock has had daily average volatility of 0.792%.

Grand Brilliance Group Holdings Limited is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: HK$0.0965 (-4.45%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 14 which reduces the risk some. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (8372.HK) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Grand Brilliance Group Holdings Limited to open at HK$0.102, and during the day (based on 14 day Average True Range), to move between HK$0.0995 and HK$0.103, which gives a possible trading interval of +/-HK$0.0015 (+/-1.52%) up or down from last closing price. If Grand Brilliance Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.04% 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$0.100 (0.99%) than the resistance at HK$0.103 (1.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Grand Brilliance Group Holdings Limited stock A Buy?

Grand Brilliance Group Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Grand Brilliance Group Holdings Limited of Wednesday, July 3, 2024

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