Golden Heaven Group Holdings Ltd. Stock Forecast
Stronger technical forecast for Golden Heaven Group Holdings Ltd. stock price after Friday trading.
(Updated on Jun 21, 2024)
The Golden Heaven Group Holdings Ltd. stock price fell by -0.553% on the last day (Friday, 21st Jun 2024) from $0.163 to $0.162. During the last trading day the stock fluctuated 8.11% from a day low at $0.155 to a day high of $0.168. The price has fallen in 7 of the last 10 days and is down by -16.73% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -716 thousand shares and in total, 2 million shares were bought and sold for approximately $350.34 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 -53.07% during the next 3 months and, with a 90% probability hold a price between $0.0206 and $0.0984 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GDHG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 1.13%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Golden Heaven Group Holdings Ltd. 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 $0.177 and $0.235. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Golden Heaven Group Holdings Ltd. stock
Golden Heaven Group Holdings Ltd. finds support from accumulated volume at $0.160 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0126 between high and low, or 8.11%. For the last week the stock has had daily average volatility of 10.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GDHG) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Golden Heaven Group Holdings Ltd. to open at $0.162, and during the day (based on 14 day Average True Range), to move between $0.128 and $0.195, which gives a possible trading interval of +/-$0.0334 (+/-20.62%) up or down from last closing price. If Golden Heaven Group Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 41.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.163 (0.56%) than the support at $0.160 (1.11%), 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.
Is Golden Heaven Group Holdings Ltd. stock A Buy?
Golden Heaven Group Holdings Ltd. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.363 Sell Candidate Upgraded
Predicted Opening Price for Golden Heaven Group Holdings Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.162 ( 0.0412%) | $0.162 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDHG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.174 | 7.75% |
| R2 | 0.170 | 4.77% |
| R1 | 0.167 | 2.93% |
| Price | 0.162 | |
| S1 | 0.157 | -3.02% |
| S2 | 0.154 | -4.85% |
| S3 | 0.149 | -7.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.180 | 11.25% |
| R2 | 0.168 | 3.71% |
| R1 | 0.163 | 0.556% |
| Price | 0.162 | |
| S1 | 0.160 | -1.11% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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