Tieling Newcity Investment Holding Ltd Stock Forecast

Green day on Tuesday for Tieling Newcity Investment Holding Ltd
(Updated on May 21, 2024)

000809.SZ Signals & Forecast

Mostly positive signals in the chart today. The Tieling Newcity Investment Holding 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 ¥2.23 and ¥1.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 62.33%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Tieling Newcity Investment Holding Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥2.17 and ¥2.16. 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, Tieling Newcity Investment Holding Ltd finds support just below today's level at ¥2.17. If this is broken, then the next support from accumulated volume will be at ¥2.16 and ¥2.13.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.210 between high and low, or 9.50%. For the last week, the stock has had daily average volatility of 5.43%.

The Tieling Newcity Investment Holding Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ¥2.29 (-3.40%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 55 days ago.)

Trading Expectations (000809.SZ) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Tieling Newcity Investment Holding Ltd to open at ¥2.33, and during the day (based on 14 day Average True Range), to move between ¥2.18 and ¥2.56, which gives a possible trading interval of +/-¥0.193 (+/-8.16%) up or down from last closing price. If Tieling Newcity Investment Holding Ltd takes out the full calculated possible swing range there will be an estimated 16.32% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ¥2.17, some ¥0.200 (8.44%) from the current price of ¥2.37, our system finds the risk reward attractive.

Is Tieling Newcity Investment Holding Ltd stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 3.821 Buy Candidate Unchanged

Predicted Opening Price for Tieling Newcity Investment Holding Ltd of Wednesday, May 22, 2024

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