Baota Industry Co Ltd Stock Forecast
Baota Industry Co Ltd stock price ended at ¥4.23 on Monday, after losing 0.704%.
(Updated on May 06, 2024)
The Baota Industry Co Ltd stock price fell by -0.704% on the last day (Monday, 6th May 2024) from ¥4.26 to ¥4.23. During the last trading day the stock fluctuated 1.90% from a day low at ¥4.20 to a day high of ¥4.28. The price has risen in 5 of the last 10 days and is up by 3.93% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 17 million shares were bought and sold for approximately ¥70.57 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Baota Industry Co Ltd stock with a 90% probability to be traded between ¥3.32 and ¥5.46 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000595.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 Baota Industry 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 ¥4.60. On a fall, the stock will find some support from the short-term average at ¥4.17. 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 Wednesday, March 06, 2024, and so far it has fallen -21.23%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Baota Industry Co Ltd stock
Baota Industry Co Ltd finds support from accumulated volume at ¥4.02 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 ¥0.0800 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 4.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000595.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Baota Industry Co Ltd to open at ¥4.24, and during the day (based on 14 day Average True Range), to move between ¥3.93 and ¥4.53, which gives a possible trading interval of +/-¥0.298 (+/-7.04%) up or down from last closing price. If Baota Industry Co Ltd takes out the full calculated possible swing range there will be an estimated 14.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.02 (4.96%) than the resistance at ¥4.58 (8.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Baota Industry Co Ltd will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Baota Industry Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.05% in the first trading day after earnings release.
Is Baota Industry Co Ltd stock A Buy?
Baota Industry Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.420 Sell Candidate Unchanged
Predicted Opening Price for Baota Industry Co Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥4.24 ( 0.158%) | ¥4.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000595.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.32 | 2.05 % | |
| R2 | 4.29 | 1.33 % | ||
| R1 | 4.27 | 0.88 % | ||
| Current price: | 4.23 | |||
| Support | S1 | 4.21 | -0.565 % | |
| S2 | 4.19 | -1.01 % | ||
| S3 | 4.16 | -1.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.98 | 17.73 % | |
| R2 | 4.94 | 16.78 % | ||
| R1 | 4.58 | 8.27 % | ||
| Current price | 4.23 | |||
| Support | S1 | 4.02 | -4.96% | |
| S2 | 3.93 | -7.09% | ||
| S3 | 3.90 | -7.80% |
FAQ
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