Suning Universal Co Ltd Stock Forecast

Suning Universal Co Ltd stock price down 0% on Monday
(Updated on May 06, 2024)

000718.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 12.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Suning Universal 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 ¥2.06. On a fall, the stock will find some support from the short-term average at ¥1.95. 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.

Support, Risk & Stop-loss for Suning Universal Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥1.94 and ¥1.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Suning Universal Co Ltd finds support just below today's level at ¥1.94. If this is broken, then the next support from accumulated volume will be at ¥1.89 and ¥1.87.

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 ¥0.0800 between high and low, or 3.90%. For the last week, the stock has had daily average volatility of 7.03%.

Our recommended stop-loss: ¥1.98 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (000718.SZ) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Suning Universal Co Ltd to open at ¥2.08, and during the day (based on 14 day Average True Range), to move between ¥1.96 and ¥2.16, which gives a possible trading interval of +/-¥0.105 (+/-5.08%) up or down from last closing price. If Suning Universal Co Ltd takes out the full calculated possible swing range there will be an estimated 10.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥2.11 (2.43%) than the support at ¥1.94 (5.83%), 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 Suning Universal Co Ltd stock A Buy?

Suning Universal 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: -0.524 Hold/Accumulate Unchanged

Predicted Opening Price for Suning Universal Co Ltd of Tuesday, May 7, 2024

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