Minsheng Holdings Co Ltd Stock Forecast

Red day on Tuesday for Minsheng Holdings Co Ltd
(Updated on Apr 30, 2024)

000416.SZ Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Minsheng Holdings 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 ¥0.779. On a fall, the stock will find some support from the short-term average at ¥0.447. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

Support, Risk & Stop-loss for Minsheng Holdings Co Ltd stock

Minsheng Holdings Co Ltd finds support from accumulated volume at ¥0.430 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ¥0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.86%

Minsheng Holdings Co Ltd is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: ¥0.428 (-4.84%) (This stock has low daily movements and this gives low risk. Low RSI14 is 8 which reduces the risk some. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (000416.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Minsheng Holdings Co Ltd to open at ¥0.450, and during the day (based on 14 day Average True Range), to move between ¥0.388 and ¥0.512, which gives a possible trading interval of +/-¥0.0624 (+/-13.86%) up or down from last closing price. If Minsheng Holdings Co Ltd takes out the full calculated possible swing range there will be an estimated 27.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥0.470 (4.44%) than the support at ¥0.430 (4.44%), 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 Minsheng Holdings Co Ltd stock A Buy?

Minsheng Holdings 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Minsheng Holdings Co Ltd of Monday, May 6, 2024

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