Tianjin Guangyu Development Co., Ltd Stock Forecast

Tianjin Guangyu Development Co., Ltd stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 24, 2024)

000537.SZ Signals & Forecast

The Tianjin Guangyu Development Co., Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥9.99 and ¥9.73. 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 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -2.71%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, May 09, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Tianjin Guangyu Development Co., Ltd stock

Tianjin Guangyu Development Co., Ltd finds support from accumulated volume at ¥9.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ¥0.500 between high and low, or 5.17%. For the last week, the stock has had daily average volatility of 3.22%.

Our recommended stop-loss: ¥9.66 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (000537.SZ) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Tianjin Guangyu Development Co., Ltd to open at ¥9.97, and during the day (based on 14 day Average True Range), to move between ¥9.60 and ¥10.48, which gives a possible trading interval of +/-¥0.439 (+/-4.38%) up or down from last closing price. If Tianjin Guangyu Development Co., Ltd takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥9.99 (0.50%) than the resistance at ¥10.15 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Tianjin Guangyu Development 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 Tianjin Guangyu Development 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: 3.237 Buy Candidate Upgraded

Predicted Opening Price for Tianjin Guangyu Development Co., Ltd of Tuesday, May 28, 2024

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