Breakout Stocks of Week 20 @ SZCE
NASDAQ was up last week (week 19) by 1.18% ending at 16,346.26 points after gaining 189.94 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Cscec Scimee Sci. and Tech. Co., Ltd. SZCE:300425. This stock has had a buy signal since May 06, 2024 when the price was ¥4.54 , but have so far fallen -1.76% to ¥4.46. Some other companies are on our watchlist to, among these are Poco Holding Co., Ltd. SZCE:300811 Shandong Oriental Ocean Sci-Tech Co., Ltd. SZCE:002086 Kingsignal Technology Co., Ltd. SZCE:300252 and Edan Instruments Inc SZCE:300206 which all got a breakout pattern emerging.
| Date | Company | Price | Week 20 |
|---|---|---|---|
| Cscec Scimee Sci. And Tech. Co., Ltd. | ¥4.46 | ¥4.48 | 0.448% |
| Poco Holding Co., Ltd. | ¥53.89 | ¥53.45 | -0.82% |
| Shandong Oriental Ocean Sci-tech Co., Ltd. | ¥2.37 | ¥2.40 | 1.27% |
| Kingsignal Technology Co., Ltd. | ¥7.21 | ¥7.63 | 5.83% |
| Edan Instruments Inc | ¥9.92 | ¥9.80 | -1.21% |
The Cscec Scimee Sci. and Tech. Co., Ltd. stock price fell by -1.11% on the last day (Friday, 10th May 2024) from ¥4.51 to ¥4.46. During the last trading day the stock fluctuated 2.25% from a day low at ¥4.44 to a day high of ¥4.54. The price has risen in 6 of the last 10 days but is still down by -0.89% 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 -2 million shares and in total, 14 million shares were bought and sold for approximately ¥61.49 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Poco Holding Co., Ltd. stock price fell by -3.15% on the last day (Friday, 10th May 2024) from ¥55.64 to ¥53.89. During the last trading day the stock fluctuated 3.46% from a day low at ¥53.80 to a day high of ¥55.66. The price has risen in 6 of the last 10 days but is still down by -2.99% for this period. Volume has increased on the last day by 549 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately ¥124.83 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Shandong Oriental Ocean Sci-Tech Co., stock price gained 1.28% on the last trading day (Friday, 10th May 2024), rising from ¥2.34 to ¥2.37. During the last trading day the stock fluctuated 5.31% from a day low at ¥2.26 to a day high of ¥2.38. The price has risen in 6 of the last 10 days but is still down by -5.95% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 606 thousand more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately ¥17.06 million.
Shandong Oriental Ocean Sci-Tech Co., 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.
The Kingsignal Technology Co., Ltd. stock price fell by -3.48% on the last day (Friday, 10th May 2024) from ¥7.47 to ¥7.21. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.75% from a day low at ¥7.16 to a day high of ¥7.50. The price has been going up and down for this period, and there has been a 2.12% gain for the last 2 weeks. Volume has increased on the last day by 782 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 21 million shares were bought and sold for approximately ¥150.84 million.
Kingsignal Technology Co., Ltd. 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.
The Edan Instruments Inc stock price fell by -2.94% on the last day (Friday, 10th May 2024) from ¥10.22 to ¥9.92. During the last trading day the stock fluctuated 3.54% from a day low at ¥9.88 to a day high of ¥10.23. The price has risen in 6 of the last 10 days and is up by 6.55% over the past 2 weeks. 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 -3 million shares and in total, 13 million shares were bought and sold for approximately ¥127.06 million.
Edan Instruments Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Edan Instruments Inc:
Edan Instruments, Inc. engages in the research, development, manufacture, and sale of medical equipment worldwide. The company offers diagnostic electrocardiograph (ECG) products, including resting ECG, stress test, holter, wireless solution, and ECG workstation products; patient monitoring systems, such as vital signs, transport, and central monitoring systems, as well as high acuity cares, acute and sub-acute cares, telemetry, and pulse oximetry products; and obstetrics and gynecology products comprising fetal and maternal monitoring systems, fetal telemetry systems, ultrasonic doppler systems, and video colposcopes. It also provides ultrasound imaging systems that include color doppler ultrasound and B/W digital ultrasound systems; and in-vitro diagnostics, which comprise hematology analyzers. In addition, the company offers point-of-care testing systems, including blood gas and chemistry, magnetic immunoassay, and colloidal gold-labeled immunoassay analyzers; and veterinary ultrasound, ECG, ABG, and monitoring products. Edan Instruments, Inc. is headquartered in Shenzhen, the People's Republic of China.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
