Gohigh Data Networks Technology Co., Ltd Stock Forecast

High volatility in Gohigh Data Networks Technology Co., Ltd stock price on Friday which ended trading at ¥2.65
(Updated on May 24, 2024)

000851.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 5.16%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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 Gohigh Data Networks Technology Co., Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥2.70 and ¥3.94. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Gohigh Data Networks Technology Co., Ltd stock

Gohigh Data Networks Technology Co., Ltd finds support from accumulated volume at ¥2.64 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 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 ¥0.320 between high and low, or 12.75%. For the last week, the stock has had daily average volatility of 10.90%.

Gohigh Data Networks Technology Co., Ltd is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (000851.SZ) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Gohigh Data Networks Technology Co., Ltd to open at ¥2.66, and during the day (based on 14 day Average True Range), to move between ¥2.27 and ¥3.03, which gives a possible trading interval of +/-¥0.379 (+/-14.30%) up or down from last closing price. If Gohigh Data Networks Technology Co., Ltd takes out the full calculated possible swing range there will be an estimated 28.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥2.64 (0.38%) than the resistance at ¥2.74 (3.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Gohigh Data Networks Technology Co., Ltd stock A Buy?

Gohigh Data Networks Technology Co., Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.618 Sell Candidate Unchanged

Predicted Opening Price for Gohigh Data Networks Technology Co., Ltd of Tuesday, May 28, 2024

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