Shunfa Hengye Corp Stock Forecast

Evaluation of Shunfa Hengye Corp stock downgraded after the last trading session.
(Updated on Apr 30, 2024)

000631.SZ Signals & Forecast

The Shunfa Hengye Corp 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 ¥2.78 and ¥2.85. A breakdown below any of these levels will issue sell signals. 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, April 02, 2024, and so far it has fallen -5.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Shunfa Hengye Corp stock

Shunfa Hengye Corp finds support from accumulated volume at ¥2.84 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 ¥0.230 between high and low, or 8.55%. For the last week, the stock has had daily average volatility of 6.21%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (000631.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Shunfa Hengye Corp to open at ¥2.83, and during the day (based on 14 day Average True Range), to move between ¥2.71 and ¥3.03, which gives a possible trading interval of +/-¥0.164 (+/-5.73%) up or down from last closing price. If Shunfa Hengye Corp takes out the full calculated possible swing range there will be an estimated 11.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥2.88 (0.35%) than the support at ¥2.84 (1.05%), 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 Shunfa Hengye Corp stock A Buy?

Shunfa Hengye Corp 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.817 Sell Candidate Downgraded

Predicted Opening Price for Shunfa Hengye Corp of Monday, May 6, 2024

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