Shenzhen Quanxinhao Co Ltd Stock Forecast

Volatile ride for Shenzhen Quanxinhao Co Ltd stock price on Tuesday moving between ¥3.83 and ¥4.38
(Updated on Apr 30, 2024)

000007.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 22.54%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Quanxinhao 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 ¥4.25. On a fall, the stock will find some support from the short-term average at ¥3.90. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Shenzhen Quanxinhao Co Ltd stock

Shenzhen Quanxinhao Co Ltd finds support from accumulated volume at ¥4.23 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.550 between high and low, or 14.36%. For the last week, the stock has had daily average volatility of 11.47%.

Since the Shenzhen Quanxinhao Co Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: ¥4.07 (-4.06%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (000007.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Shenzhen Quanxinhao Co Ltd to open at ¥4.15, and during the day (based on 14 day Average True Range), to move between ¥3.91 and ¥4.57, which gives a possible trading interval of +/-¥0.329 (+/-7.76%) up or down from last closing price. If Shenzhen Quanxinhao Co Ltd takes out the full calculated possible swing range there will be an estimated 15.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥4.23 (0.24%) than the resistance at ¥4.38 (3.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shenzhen Quanxinhao Co Ltd stock A Buy?

Shenzhen Quanxinhao Co Ltd 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.

Current score: -0.402 Hold/Accumulate Unchanged

Predicted Opening Price for Shenzhen Quanxinhao Co Ltd of Monday, May 6, 2024

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