Shenzhen Centralcon Invstmnt Hldg Co Ltd Stock Forecast

Volatile ride for Shenzhen Centralcon Invstmnt Hldg Co Ltd stock price on Tuesday moving between ¥3.81 and ¥4.75
(Updated on Apr 30, 2024)

000042.SZ Signals & Forecast

Mostly positive signals in the chart today. The Shenzhen Centralcon Invstmnt Hldg Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥3.91 and ¥4.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 28.08%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Shenzhen Centralcon Invstmnt Hldg Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥4.21 and ¥4.17. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shenzhen Centralcon Invstmnt Hldg Co Ltd finds support just below today's level at ¥4.21. If this is broken, then the next support from accumulated volume will be at ¥4.17 and ¥3.61.

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 ¥0.94 between high and low, or 24.67%. For the last week, the stock has had daily average volatility of 13.64%.

Since the Shenzhen Centralcon Invstmnt Hldg Co Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ¥4.30 (-3.88%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (000042.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Shenzhen Centralcon Invstmnt Hldg Co Ltd to open at ¥4.34, and during the day (based on 14 day Average True Range), to move between ¥3.98 and ¥4.96, which gives a possible trading interval of +/-¥0.488 (+/-10.92%) up or down from last closing price. If Shenzhen Centralcon Invstmnt Hldg Co Ltd takes out the full calculated possible swing range there will be an estimated 21.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥4.68 (4.70%) than the support at ¥4.21 (5.82%), 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 Shenzhen Centralcon Invstmnt Hldg Co Ltd stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Shenzhen Centralcon Invstmnt Hldg Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.572 Buy Candidate Upgraded

Predicted Opening Price for Shenzhen Centralcon Invstmnt Hldg Co Ltd of Monday, May 6, 2024

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