China Greatwall Technology Group Co Ltd Stock Forecast

China Greatwall Technology Group Co Ltd stock price up 0.411% on Tuesday
(Updated on Apr 30, 2024)

000066.SZ Signals & Forecast

The China Greatwall Technology Group 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 ¥9.32 and ¥9.75. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -10.19%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for China Greatwall Technology Group Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥9.18 and ¥9.14. 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, China Greatwall Technology Group Co Ltd finds support just below today's level at ¥9.18. If this is broken, then the next support from accumulated volume will be at ¥9.14 and ¥9.13.

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 ¥0.800 between high and low, or 8.83%. For the last week, the stock has had daily average volatility of 4.97%.

Our recommended stop-loss: ¥9.27 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (000066.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect China Greatwall Technology Group Co Ltd to open at ¥9.57, and during the day (based on 14 day Average True Range), to move between ¥9.34 and ¥10.22, which gives a possible trading interval of +/-¥0.443 (+/-4.53%) up or down from last closing price. If China Greatwall Technology Group Co Ltd takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥9.18 (6.13%) than the resistance at ¥10.52 (7.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Greatwall Technology Group Co Ltd stock A Buy?

China Greatwall Technology Group 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: -0.246 Hold/Accumulate Unchanged

Predicted Opening Price for China Greatwall Technology Group Co Ltd of Monday, May 6, 2024

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