CHANGYU/Shs A Vtg 1.00 Stock Forecast

CHANGYU/Shs A Vtg 1.00 stock downgraded to Sell Candidate
(Updated on May 31, 2024)

000869.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 0.711%. 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 CHANGYU/Shs A Vtg 1.00 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 ¥24.35 and ¥25.13. 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 CHANGYU/Shs A Vtg 1.00 stock

CHANGYU/Shs A Vtg 1.00 finds support from accumulated volume at ¥23.92 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 ¥0.260 (1.09%) between high and low. For the last week, the stock has had daily average volatility of 2.46%.

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

Trading Expectations (000869.SZ) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect CHANGYU/Shs A Vtg 1.00 to open at ¥24.09, and during the day (based on 14 day Average True Range), to move between ¥23.25 and ¥24.93, which gives a possible trading interval of +/-¥0.84 (+/-3.48%) up or down from last closing price. If CHANGYU/Shs A Vtg 1.00 takes out the full calculated possible swing range there will be an estimated 6.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥24.18 (0.37%) than the support at ¥23.92 (0.71%), 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 CHANGYU/Shs A Vtg 1.00 stock A Buy?

The CHANGYU/Shs A Vtg 1.00 stock holds several negative signals and despite the positive trend, we believe CHANGYU/Shs A Vtg 1.00 will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.846 Sell Candidate Downgraded

Predicted Opening Price for CHANGYU/Shs A Vtg 1.00 of Monday, June 3, 2024

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