Hunan Valin Wire & Cable Co.,ltd. Stock Forecast

Strong day for Hunan Valin Wire & Cable Co.,ltd. stock price on Friday rising 10.01% to ¥7.58
(Updated on Jun 28, 2024)

001208.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 13.98%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hunan Valin Wire & Cable 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 ¥7.63. On a fall, the stock will find some support from the short-term average at ¥6.99. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Hunan Valin Wire & Cable Co.,ltd. stock

Hunan Valin Wire & Cable Co.,ltd. finds support from accumulated volume at ¥7.50 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.660 between high and low, or 9.54%. For the last week, the stock has had daily average volatility of 5.68%.

Our recommended stop-loss: ¥7.18 (-5.30%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (001208.SZ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Hunan Valin Wire & Cable Co.,ltd. to open at ¥7.36, and during the day (based on 14 day Average True Range), to move between ¥7.18 and ¥7.98, which gives a possible trading interval of +/-¥0.397 (+/-5.24%) up or down from last closing price. If Hunan Valin Wire & Cable Co.,ltd. takes out the full calculated possible swing range there will be an estimated 10.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥7.50 (1.06%) than the resistance at ¥8.10 (6.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hunan Valin Wire & Cable Co.,ltd. stock A Buy?

Hunan Valin Wire & Cable 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.521 Hold/Accumulate Upgraded

Predicted Opening Price for Hunan Valin Wire & Cable Co.,ltd. of Monday, July 1, 2024

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