Northeast Securities Co Ltd Stock Forecast

Northeast Securities Co Ltd stock price down 0.291% on Tuesday
(Updated on May 07, 2024)

000686.SZ Signals & Forecast

The Northeast Securities Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥6.85. On a fall, the stock will find some support from the long-term average at approximately ¥6.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -3.66%. 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 Northeast Securities Co Ltd stock

Northeast Securities Co Ltd finds support from accumulated volume at ¥6.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.160 (2.36%) between high and low. For the last week, the stock has had daily average volatility of 3.67%.

Our recommended stop-loss: ¥6.50 (-5.12%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (000686.SZ) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Northeast Securities Co Ltd to open at ¥6.86, and during the day (based on 14 day Average True Range), to move between ¥6.63 and ¥7.07, which gives a possible trading interval of +/-¥0.221 (+/-3.22%) up or down from last closing price. If Northeast Securities Co Ltd takes out the full calculated possible swing range there will be an estimated 6.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥6.78 (1.02%) than the resistance at ¥6.98 (1.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Northeast Securities Co Ltd stock A Buy?

Northeast Securities 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: 0.887 Hold/Accumulate Unchanged

Predicted Opening Price for Northeast Securities Co Ltd of Wednesday, May 8, 2024

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