On Friday Inspur Electronic Infmtn Indtry Co Ltd stock price gained impressive 6.29%
(Updated on Aug 05, 2022)
Buy candidate since 2022-08-05 PDF
The Inspur Electronic Infmtn Indtry Co Ltd stock price gained 6.29% on the last trading day (Friday, 5th Aug 2022), rising from ¥23.54 to ¥25.02. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.36% from a day low at ¥23.60 to a day high of ¥25.10. The price has risen in 6 of the last 10 days and is up by 3.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 53 million more shares were traded than the day before. In total, 67 million shares were bought and sold for approximately ¥1.66 billion.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Inspur Electronic Infmtn Indtry Co Ltd stock with a 90% probability to be traded between ¥22.64 and ¥25.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Signals & Forecast
Mostly positive signals in the chart today. The Inspur Electronic Infmtn Indtry Co Ltd stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥24.09 and ¥24.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, August 02, 2022, and so far it has risen 8.22%. 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
Inspur Electronic Infmtn Indtry Co Ltd finds support from accumulated volume at ¥24.98 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 ¥1.50 (6.36%) between high and low. For the last week, the stock has had a daily average volatility of 3.71%.
Our recommended stop-loss: ¥24.04 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations For The Upcoming Trading Day Of Monday 8th
For the upcoming trading day on Monday 8th we expect Inspur Electronic Infmtn Indtry Co Ltd to open at ¥24.57, and during day (based on 14 day Average True Range), to move between ¥24.28 and ¥25.76, which gives a possible trading interval of +/-¥0.74 (+/-2.96%) up or down from last closing price. If Inspur Electronic Infmtn Indtry Co Ltd takes out the full calculated possible swing range there will be an estimated 5.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥24.98 (0.16%) than the resistance at ¥25.51 (1.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Inspur Electronic Infmtn Indtry Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Inspur Electronic Infmtn Indtry Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.025Buy Candidate Upgraded
Predicted Opening Price for Inspur Electronic Infmtn Indtry Co Ltd of Monday, August 8, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 8, 2022||Current price|
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